Intangible assets (Tables)

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

The Company’s intangible assets as of June 30, 2015 and December 31, 2014 are summarized as follows (figures are in thousands of USD):

	June 30, 2015		December 31, 2014
Costs:
Patent technology	$	4,891	$	4,887
Management software license		940		932
Total intangible assets ⁽¹⁾		5,831		5,819
Less: Amortization ⁽²⁾		(2,707)		(2,400)
Total intangible assets, net	$	3,124	$	3,419

(1)

Through the acquisition of Fujian Qiaolong in the second quarter of 2014, the Company acquired $0.9 million of intangible assets, consisting of $0.9 million of patent technology and $nil of management software licenses, which are amortized over a weighted average life of 4.7 years and 1.1 years, respectively.

(2)

Amortization expenses were $0.30 million and $0.12 million for the three months ended June 30, 2015 and 2014, respectively, and $0.5 million and $0.17 million for the six months ended June 30, 2015 and 2014, respectively.