PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	December 31,
	2020		2019
At Cost:
Plant and buildings	$	4,083,793	$	3,854,165
Machinery and equipment		14,824,614		13,980,996
Motor vehicles		400,476		339,701
Office equipment		127,762		119,445
		19,436,645		18,294,307
Less: Accumulated depreciation
Plant and buildings		(3,145,380)		(2,848,768)
Machinery and equipment		(13,085,492)		(12,087,004)
Motor vehicles		(292,675)		(298,904)
Office equipment		(120,124)		(111,367)
		(16,643,671)		(15,346,043)
Construction- in-progress		543,007		—
Property, plant and equipment, net	$	3,335,981	$	2,948,264

Unrealized foreign exchange translation gain/(loss) for the year ended December 31, 2020, 2019 and 2018 was $671,757,  ($39,727) and ($183,640), respectively, which has been included in other comprehensive income/(loss). Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $398,793,  $516,560 and $548,553, respectively.