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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Profit/(loss) before tax $ 464 $ 7,565 $ (9,857)
Adjustments to reconcile profit before tax to net cash provided by operating activities:      
Depreciation 6,157 5,790 5,447
Impairment of property, plant and equipment 0 0 7
Amortization of intangible assets 54 45 47
Gain on disposal of property, plant and equipment (39) (132) (318)
Gain on disposal of assets classified as held for sale 0 (240) 0
Gain on disposal of investment property 0 (271) 0
Adjustment for on fair value of derivatives (196) (33) (259)
Dividend income (97) (97) (106)
Finance income (205) (120) (123)
Finance costs 2,527 1,650 1,251
Share of loss of associates 2 1 1
Impairment for trade receivables 75 509 205
Impairment (reversal of impairment) for trade receivables for related parties 4,565 (1) 15
Impairment (write-back of impairment) of inventories (10,255) (1,119) 14,136
Unrealized foreign exchange difference, net (325) 245 1,784
(Gain) on lease modification 0 (74) (2)
Changes in operating assets and liabilities      
Trade and other receivable (21,003) 16,720 (25,739)
Contract assets (1,236) (952) (1,387)
Inventories 13,917 (4,389) (53,857)
Prepayment and other current assets 820 (35) (886)
Amounts due to/from related parties (3,772) 807 3,911
Other non-current assets 195 (54) (169)
Trade and other payables, accruals, other current liabilities and other non-current liabilities 6,659 (14,035) 28,896
Net cash flows (used in)/provided by operating activities (1,693) 11,780 (37,003)
Dividend received 97 97 106
Interest received 205 119 131
Interest paid (2,381) (1,475) (1,078)
Income tax paid (2,318) (3,955) (3,768)
Net cash (used in)/provided by operating activities (6,090) 6,566 (41,612)
Investing activities:      
Purchases of property, plant and equipment (4,254) (3,746) (8,547)
Purchases of intangible assets (40) (62) (4)
Purchases of investment properties 0 (12) 0
Purchases of long-term bank deposits (87) 0 (38)
Purchases of short-term bank deposits (407) 0 (1,364)
(Investment in) financial assets at fair value through OCI (240) 0 0
Proceeds from disposal of held for sale assets 0 241 0
Proceeds from disposal of property, plant and equipment 168 204 399
Proceeds from disposal of investment property 0 301 0
Proceeds from maturities of long-term bank deposits 0 307 0
Proceeds from maturities of short-term bank deposits 0 112 3,401
Net cash used in investing activities (4,860) (2,655) (6,153)
Financing activities:      
Dividend paid to non-controlling shareholders of subsidiaries (357) (565) (2,817)
Issuance of common stock for cash 0 7,922 0
Repayments of borrowings (7,256) (19,278) (11,819)
Repayments of borrowings - related parties 0 0 (6,000)
Proceeds from borrowings 2,799 22,167 63,915
Principal elements of lease payments (691) (616) (632)
Effect from the changes in shareholding percentage in subsidiary 0 0 (235)
Financing (5,505) 9,630 42,412
Effect of exchange rate 408 (2,036) (4,372)
Net (decrease) increase in cash and cash equivalents (16,047) 11,505 (9,725)
Cash and cash equivalents at beginning of year 54,017 42,512 52,237
Cash and cash equivalents at end of year $ 37,970 $ 54,017 $ 42,512