Accounts and notes payable

3 Months Ended

Mar. 31, 2013

Accounts and Notes Payable Disclosure [Abstract]

Accounts and Notes Payable Disclosure [Text Block]

12. Accounts and notes payable

The Company’s accounts and notes payable as of March 31, 2013 and December 31, 2012 are summarized as follows (figures are in thousands of USD):

	March 31, 2013		December 31, 2012
Accounts payable - unrelated parties	$	108,725	$	99,100
Notes payable - unrelated parties (1)		67,751		67,280
Accounts and notes payable- unrelated parties		176,476		166,380
Accounts payable- related parties		4,864		4,521
	$	181,340	$	170,901

(1) Notes payable represent accounts payable in the form of bills of exchange whose acceptances are guaranteed and settlements are handled by banks. The Company has pledged cash deposits, notes receivable and certain property, plant and equipment to secure notes payable granted by banks.