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DISCONTINUED OPERATION (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure of analysis of single amount of discontinued operations [abstract]  
Disclosure of analysis of single amount of discontinued operations [text block]
 
The results of the discontinued operation, which were included in the profit (loss) for the year, were as follows:
 
 
 
2021
 
 
2020
 
 
2019
 
 
 
US$’000
 
 
US$’000
 
 
US$’000
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
 
52,980
 
 
 
68,535
 
 
 
58,754
 
Cost of Sales
 
 
 
 
 
 
 
 
 
 
 
 
Voyage expenses
 
 
(421
)
 
 
(1,601
)
 
 
(7,999
)
Vessel operating costs
 
 
(1,942
)
 
 
(9,509
)
 
 
(14,371
)
Charter hire costs
 
 
-
 
 
 
(3,851
)
 
 
(5,581
)
Depreciation of ships, drydocking and plant and equipment– owned assets
 
 
-
 
 
 
(1,846
)
 
 
(6,794
)
Depreciation of ships and ship equipment – right-of-use assets
 
 
-
 
 
 
(1,739
)
 
 
(5,445
)
Other expenses
 
 
(61
)
 
 
(582
)
 
 
(458
)
Cost of ship sale
 
 
(50,580
)
 
 
(38,356
)
 
 
(8,564
)
Gross (loss) profit
 
 
(24
)
 
 
11,051
 
 
 
9,542
 
Other operating expense
 
 
(2,986
)
 
 
(13,264
)
 
 
(17,035
)
Administrative expense
 
 
(2,253
)
 
 
(3,173
)
 
 
(4,510
)
Share of (losses) profit of joint ventures
 
 
(1
)
 
 
1,531
 
 
 
453
 
Interest income
 
 
35
 
 
 
98
 
 
 
97
 
Interest expense
 
 
(649
)
 
 
(1,832
)
 
 
(3,864
)
Loss before taxation
 
 
(5,878
)
 
 
(5,589
)
 
 
(15,317
)
Income tax benefit (expense)
 
 
2,713
 
 
 
(534
)
 
 
(1,085
)
Net loss attributable to discontinued operation (attributable to the owners of the Company)
 
 
(3,165
)
 
 
(6,123
)
 
 
 
 
(16,402
)
 
Cash flows relating to the discontinued operation of the tanker business were as follows:
Net cash flows from discontinued operation
 
 
 
 
 
 
 
 
 
 
 
 
Cash
generated from (used in)
 from operating activities
 
 
21,909
 
 
 
29,845
 
 
 
(32,792
)
Cash
generated from (used in)
 investing activities
 
 
962
 
 
 
(1,492
)
 
 
27,548
 
Cash used in financing activities
 
 
(25,949
)
 
 
(25,723
)
 
 
(8,011
)