Intangible assets (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

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

	September 30, 2015		December 31, 2014
Costs:
Patent technology	$	4,536	$	4,887
Management software license		1,015		932
Total intangible assets ⁽¹⁾		5,551		5,819
Less: Amortization ⁽²⁾		(2,578)		(2,400)
Total intangible assets, net	$	2,973	$	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 $0.2 million and $ 0.1 million for the three months ended September 30, 2015 and 2014, respectively, and $0.5 million and $ 0.2 million for the nine months ended September 30, 2015 and 2014, respectively.