Note 21 - Trade Receivables, Other Receivables and Prepayments

12 Months Ended

Dec. 31, 2019

Statement Line Items [Line Items]

Disclosure of trade and other receivables [text block]

NOTE 21. TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAYMENTS

[US$ thousands]	As of December 31,
Trade receivables	2018		2019
Trade receivables		24,594		39,981
Unbilled receivables		12,874		9,390
Total		37,468		49,371

[US$ thousands]	As of December 31,
Other receivables	2018		2019
VAT		754		1,232
Receivable from Otello Corporation ASA		1,267		924
Deposit in restricted escrow account (1)		-		52,878
Other		5,102		4,078
Total		7,123		59,112

(

1

)

As of

December 31, 2019,

the Group had transferred

US$52,878

thousand into the escrow account as collateral for a credit facility. See Note

19

 for more information.

[US$ thousands]	As of December 31,
Prepayments	2018		2019
Prepaid expenses (1)		14,372		25,809
Total		14,372		25,809

(

1

)

See Note

28

 for specification of amount of prepaid expenses with Mobimagic Digital Technology Ltd (formerly known as

360

Mobile Security).

[US$ thousands]	As of December 31,
Allowance for impairment of trade receivables	2018			2019
As of period start, as previously reported		1,837			1,619
Impact of IFRS 9		100			-
As of period start, restated		1,937			1,619
Change in the period (1)		(318	)		(173	)
As of period end		1,619			1,446

(

1

)

The change in loss allowance in the periods is recognized in the Statement of Operations.

As of period end, the aging of trade receivables was as follows.

[US$ thousands]			Neither past due		Past due
Aging analysis of trade receivables	Total		nor impaired		<30 days		31-60 days		61-90 days		>90 days (1)
As of December 31, 2018		24,594		15,603		3,252		2,588		690		2,460
As of December 31, 2019		39,981		22,125		8,761		657		341		8,097

(

1

)

As of year-end

2019,

the total amount of trade receivables due from Powerbets, a joint venture, that were more than

90

days past due was

US$5,946

thousand (

December 31, 2018:

US$0

).

For trade receivables, the Group recognizes a loss allowance based on lifetime expected credit losses as of each reporting date. The Group makes specific loss provisions at the level of specific invoices where information exists that management can utilize in its determination of risk. For trade receivables where

no

specific risk information is identified, the Group uses a provision matrix that is based on the nature of the receivable, location of its invoicing and the age of the invoice relative to its due date, reflecting its historical credit loss experience and adjusting for forward-looking factors specific to the debtors and the economic environment. As at

December 31, 2019,

the loss allowance totaled

US$1,446

thousand, corresponding to

2.9%

of trade receivables (

December 31, 2018:

US$1,619

thousand, corresponding to

4.3%

of trade receivables).

For details regarding the Group’s procedures on managing credit risk, please refer to Note

18.