PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE－8 PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

	As of December 31,
	2024			2023			2022
	US$’000			US$’000			US$’000
At cost:
Leasehold buildings		-			-			8,089
Motor vehicles		2,665			2,723			1,938
Office equipment, and furniture and fittings		1,648			1,754			3,032
		4,313			4,477			13,059
Less: accumulated depreciation		(2,722	)		(2,660	)		(5,841)
Property and equipment, net		1,591			1,817			7,218

Depreciation expense for the financial years ended December 31, 2024, 2023 and 2022 were remained at approximately $0.4 million, $0.9 million and $0.8 million, respectively.

Property and equipment under finance leasing arrangement classified under motor vehicle as of December 31, 2024 and 2023 amounted to approximately $0.5 million and approximately $0.6 million, respectively. Details of such leased assets are disclosed in Note 10.

Right-of-use assets under operating leasing arrangements classified under leasehold building as of December 31, 2024 and 2023 amounted to approximately $0.8 million and approximately $1.6 million and, respectively. Details of such leased assets are disclosed in Note 10.