24. OTHER RESERVES Group 2025 2024 $ $ Currency translation reserve (6,000,377) (6,262,011) The currency translation reserve accumulates all foreign exchange differences arising from the translation of financial statements denominated in currencies other than the presentation currency. This reserve is not available for cash dividends unless realised. Movements in currency translation reserve during the year: Group 2025 2024 $ $ Balance at beginning of year (6,262,011) (7,717,643) Net currency translation differences of financial statements of foreign subsidiaries 261,634 1,455,632 Balance at end of year (6,000,377) (6,262,011) 25. BORROWINGS Group Company 2025 2024 2025 2024 $ $ $ $ Current: Bank overdraft (unsecured) – 677,147 – – Bill payables (unsecured) 12,271,371 13,918,794 6,979,434 10,814,190 Bill payables (secured) 1,598,827 1,308,350 – – Short term bank loans (unsecured) 10,829,438 8,919,760 10,829,438 8,119,760 Short term bank loans (secured) 3,000,000 – 3,000,000 – Long term bank loans (secured) 750,000 – 750,000 – Long term bank loans (unsecured) – 416,667 – 416,667 Current, total 28,449,636 25,240,718 21,558,872 19,350,617 Non-current: Long term bank loans (secured) 6,250,000 – 6,250,000 – Non-current, total 6,250,000 – 6,250,000 – Total borrowings 34,699,636 25,240,718 27,808,872 19,350,617 The secured long term and short term bank loans as at 31 December 2025 are secured by way of mortgage over warehouse building at 132 Pioneer Road, Singapore. The secured bill payables as at 31 December 2025 and 31 December 2024 are collateralised on fixed and floating charges over the present and future assets and undertaking of certain subsidiaries. MEGACHEM LIMITED ANNUAL REPORT 2025 158 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2025
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