Accounts and notes payable

9 Months Ended

Sep. 30, 2017

Accounts and Notes Payable Disclosure [Abstract]

Accounts and Notes Payable Disclosure [Text Block]

14.

Accounts and notes payable

The Company’s accounts and notes payable as of September 30, 2017 and December 31, 2016 are summarized as follows (figures are in thousands of USD):

	September 30, 2017		December 31, 2016
Accounts payable - unrelated parties	$	142,594	$	138,053
Notes payable - unrelated parties ⁽¹⁾		82,164		78,940
Accounts and notes payable- unrelated parties		224,758		216,993
Accounts payable - related parties		5,749		6,803
Balance at end of period	$	230,507	$	223,796

(1)

Notes payable represent accounts payable in the form of notes issued by the Company. The notes are endorsed by banks to ensure that noteholders will be paid after maturity. The Company has pledged cash deposits, short-term investments, notes receivable and certain property, plant and equipment to secure notes payable granted by banks.