Other Current Assets

6 Months Ended

Jun. 30, 2013

Other Current Assets [Abstract]

OTHER CURRRENT ASSETS

5         OTHER CURRENT ASSETS

Other current assets consist of the following:

	June 30, 2013		December 31, 2012
	($’000)		($’000)
	(Unaudited)
VAT recoverable	$	48,605	$	31,751
Customs deposits for imported inventories		1,399		21,648
Other		4,391		2,921
	$	54,395	$	56,320

Management estimates the deductible input VAT using vendor contracts, engineering and other estimates, as well as historical experience. Approximately $2.6 million and $2.2 million were included in non-current assets as of June 30, 2013 and December 31, 2012, respectively.

Customs deposits for imported inventories represent amounts paid to the local customs office in connection with the import of raw materials inventories. Upon approval by the customs authorities, these amounts become refundable by the local tax authority and are reclassified as consumption tax refund receivable (Note 4).