As of December 31, 2021 and 2020, trade receivables were all from contracts with customers. And as of January 1, 2020, the balance of trade receivables from contracts with customers was $74,077.

	2021			2020
	US$’000			US$’000
At January 1		1,414			1,550
Charge for the year		383			227
Write-off		(734	)		(339	)
Unused amounts reversed		(170	)		(147	)
Currency translation adjustment		(65	)		102
Reclassification		13			21
At December 31		841			1,414

					Past due
	Total		Current		1-30 days		31-60 days		61-90 days		91-120 days		>120 days
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
December 31, 2021
Expected loss rate	0.81%		0.11%		0.68%		4.77%		7.14%		3.03%		53.12%
Gross carrying amount - trade receivables		104,405		90,080		11,140		1,572		504		66		1,043
Loss allowances		841		98		76		75		36		2		554
Trade receivable, net		103,564		89,982		11,064		1,497		468		64		489

December 31, 2020
Expected loss rate	1.69%		0.16%		1.23%		2.80%		6.92%		15.91%		66.48%
Gross carrying amount - trade receivables		83,485		69,336		9,557		2,751		159		44		1,638
Loss allowances		1,414		112		118		77		11		7		1,089
Trade receivable, net		82,071		69,224		9,439		2,674		148		37		549

Our Company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on our Company’s historical credit loss experience, adjusted to reflect current and forward-looking information on general economic conditions affecting the ability of the customers to settle the receivables.

Our Company obtained collateral in respect of doubtful receivables from customers. The collateral takes the form of a lien over the customer’s assets and gives our Company a claim on these assets for the doubtful receivables.

In March 2017, a lawsuit was filed by a debtor to rescind the foreclosure that our Company has undertaken on the collateral in Thailand. Our Company’s foreclosure prevailed according to the judgement from the Appeal Court on November 28, 2017. The debtor’s petition reached to the Supreme Court on June 19, 2018, and was denied on March 27, 2019. Our Company performed a valuation to determine the fair value of the collateral. As of December 31, 2019, the fair value of the collateral was $1,339, which was lower than the amount of the associated delinquent account, and our Company recognized an impairment loss of $30 in other operating expenses, accordingly. In June 2020, the collateral was auctioned off and our Company received payment of $1,060 to settle the net amount of $1,242 owed by the customer that was net of allowance of $111. Our Company recognized an additional loss of $182 for the year ended December 31, 2020.

See Note 27(b) credit risk of trade receivables for discussions on how our Company manages and measures credit quality of trade receivables that are neither past due nor impaired.

The carrying amounts of other receivables pledged as collateral against credit facilities received from financial institutions are disclosed in Note 27(e)(ii).