Company: DTCK
Filing Date: 2025-12-23
Form Type: 6-K
Source: 0001683168-25-009327
Chunk: 21

Company: DAVIS COMMODITIES Ltd
Filing Date: 2025-12-23
Form: 6-K
Chunk 21
---
 The 2023 Loan is convertible at the option of the Lender with written notice to the Borrower. As of December 31, 2024 and
June 30, 2025, the outstanding principal and interest on the 2023 Loan was US$6,291,237 and US$6,483,223, respectively.

8. LEASES

Operating lease

As of June 30, 2025, the Company
had one operating lease for its office. The Company’s lease agreement does not contain any material residual value guarantees
or material restrictive covenants. As of June 30, 2025, the weighted average remaining lease term was 6
months (2024: 1 year) and the weighted average discount rate was 5.25%
(2024: 5.25%). Cash paid for operating lease included in the operating cash flows was US$20,068
and US$20,268
for the six-month periods ended June 30, 2024 and 2025, respectively. Subsequent to June 30, 2025, the Company will be renewing the
lease for an additional three-year term under similar commercial terms.

The following table presents the
operating lease-related assets and liabilities recorded on the Company’s consolidated balance sheet as at December 31, 2024 and unaudited interim condensed balance sheet as at June 30, 2025.

| Schedule of operating lease related assets and liabilities |     |              |      |   |     |          |      |   |
|                                                            |     | December 31, |      |   |     | June 30, |      |   |
|                                                            |     |         2024 |      |   |     |     2025 |      |   |
|                                                            |     |      US$’000 |      |   |     |  US$’000 |      |   |
| Right-of-use asset                                         |     |              |  259 |   |     |          |  259 |   |
| Accumulated depreciation                                   |     |              | (222 | ) |     |          | (241 | ) |
| Right-of-use asset, net                                    |     |              |   37 |   |     |          |   18 |   |

|                                   |     | December 31, |    |     | June 30, |    |
|                                   |     |         2024 |    |