BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2017

Borrowings [abstract]

Schedule of Exchangeable Notes

The first date on which holders can exercise their put option is April 1, 2022. If the put option is exercised, the issuer has to repurchase the notes at par. The embedded derivatives are summarised as follows:

	December 31, 2017 US$’000		December 31, 2016 US$’000
Non-current assets
Exchangeable note bond call option		360		—
Non-current liabilities
Exchangeable note equity conversion option		440		3,970
Exchangeable note bond put option		1,790		290
		2,230		4,260
Total value of embedded derivatives – net liability		1,870		4,260

Schedule of Carrying Value of Exchangeable Senior Notes

Subsequently, the host debt instrument is measured at amortised cost using the effective interest rate method. The carrying value of exchangeable senior notes is calculated as follows:

	December 31, 2017 US$’000		December 31, 2016 US$’000
Balance at 1 January		92,232		91,514
Accretion interest		723		718
		92,955		92,232

	December 31, 2017 US$’000		December 31, 2016 US$’000
Exchangeable senior notes		92,955		92,232
Total value of embedded derivatives – liability		2,230		4,260
Total non-current liabilities		95,185		96,492