Property and Equipment

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about property, plant and equipment [abstract]

Property and equipment

4 Property and equipment

	Furniture and fittings			Motor vehicles			Office equipment			Leasehold improvements			Computers and software			Building			Assets under construction			Total
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Cost
At 1 January 2017		338			69			650			1,307			880			–			18,367			21,611
Additions		52			1			212			478			33			3,117			–			3,893
Disposals		(66	)		(17	)		–			(907	)		(7	)		–			–			(997	)
Reclassification		–			–			850			207			6			18,099			(19,162	)		–
Revaluation surplus		–			–			–			–			–			5,949			–			5,949
Currency translation difference		12			3			27			21			33			1			795			892
At 31 December 2017		336			56			1,739			1,106			945			27,166			–			31,348
Additions		1			–			34			75			28			–			–			138
Disposals		–			–			–			(321	)		(39	)		–			–			(360	)
Currency translation difference		(6	)		(1	)		(32	)		(17	)		(20	)		(461	)		–			(537	)
At 31 December 2018		331			55			1,741			843			914			26,705			–			30,589
Accumulated depreciation
At 1 January 2017		310			43			427			1,218			692			–			–			2,690
Depreciation charge		24			8			309			284			117			737			–			1,479
Disposals		(66	)		(7	)		(1	)		(907	)		(7	)		–			–			(988	)
Reclassification		–			–			(4	)		–			4			–			–			–
Elimination of accumulated depreciation on revaluation		–			–			–			–			–			(737	)		–			(737	)
Currency translation difference		16			2			26			26			29			–			–			99
At 31 December 2017		284			46			757			621			835			–			–			2,543
Depreciation charge		25			6			312			131			88			1,010			–			1,572
Disposals		–			–			–			(321	)		(39	)		–			–			(360	)
Currency translation difference		(5	)		(1	)		(21	)		(13	)		(20	)		(21	)		–			(81	)
At 31 December 2018		304			51			1,048			418			864			989			–			3,674

	Furniture and fittings		Motor vehicles		Office equipment		Leasehold improvements		Computers and software		Building		Assets under construction		Total
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Carrying amounts
At 1 January 2017		28		26		223		89		188		–		18,367		18,921
At 31 December 2017		52		10		982		485		110		27,166		–		28,805
At 31 December 2018		27		4		693		425		50		25,716		–		26,915

Buildings are valued every 3 years on 31 December by an independent professional valuer. Valuations are made on the basis of open market value. It is the intention of the Management to hold the building for the long term. The building is pledged to secure the Company’s term loan and some of the trust receipts (Note 20).

Finance lease

The carrying value of a motor vehicle held under finance lease obligation as at 31 December 2018 is US$1,800 (31/12/2017: US$4,800) The leased asset is pledged as security for the related finance lease liability.

The carrying value of a telephony system held under finance lease obligation as at 31 December 2018 is US$46,300 (31/12/2017: US$94,200).