DERIVATIVES AND FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about financial instruments [abstract]

Schedule of Interest Rate Risk Effective and Repricing Analysis

The following table sets out all interest-earning financial assets and interest bearing financial liabilities held by the Group at December 31, indicating their effective interest rates and the period in which they re-price:

As at December 31, 2018	Note		Effective interestrate			Total US$’000			6 mths or less US$’000			6 –12 mths US$’000			1-2 years US$’000			2-5 years US$’000			> 5 years US$’000
Cash and cash equivalents		18		1.8	%		30,277			30,277			—			—			—			—
Short-term investments		19		—			—			—			—			—			—			—
Finance lease receivable		17		4.0	%		835			191			168			238			238			—
Licence payments		22		3.0	%		(1,207	)		(1,207	)		—			—			—			—
Finance lease payable		25		4.8	%		(962	)		(217	)		(219	)		(252	)		(274	)		—
Exchangeable note		24		4.8	%		(81,382	)		—			—			—			—			(81,382	)
Total							(52,439	)		29,044			(51	)		(14	)		(36	)		(81,382	)

As at December 31, 2017	Note		Effective interestrate			Total US$’000			6 mths or less US$’000			6 –12 mths US$’000			1-2 years US$’000			2-5 years US$’000			> 5 years US$’000
Cash and cash equivalents		18		1.4	%		23,564			23,564			—			—			—			—
Short-term investments		19		1.4	%		34,043			—			34,043			—			—			—
Finance lease receivable		17		4.0	%		1,185			267			233			333			352			—
Licence payments		22		3.0	%		(1,112	)		(1,112	)		—			—			—			—
Finance lease payable		25		4.6	%		(886	)		(176	)		(178	)		(364	)		(168	)		—
Exchangeable note		24		4.8	%		(92,955	)		—			—			—			—			(92,955	)
Total							(36,161	)		22,543			34,098			(31	)		184			(92,955	)

Schedule of Interest Rate Profile of Financial Assets/Liabilities

The interest rate profile of financial assets/liabilities of the Group was as follows:

	December 31, 2018 US$‘000			December 31, 2017 US$‘000
Fixed rate instruments
Fixed rate financial liabilities (licence fees)		(1,207	)		(1,112	)
Fixed rate financial liabilities (exchangeable note)		(81,382	)		(92,955	)
Fixed rate financial liabilities (finance lease payables)		(962	)		(886	)
Financial assets (short-term deposits and short-term investments)		23,423			48,046
Financial assets (finance lease receivables)		835			1,185
Variable rate instruments
Financial assets (cash)		6,854			9,561
		(52,439	)		(36,161	)

Schedule of Liquidity Risk Estimated Interest Payments of Maturities

The following are the contractual maturities of financial liabilities, including estimated interest payments:

As at December 31, 2018 US$’000	Carryingamount US$’000		Contractualcash flows US$’000		6 mths orless US$’000		6 mths – 12 mths US$’000		1-2 years US$’000		2-5 years US$’000		>5 years US$’000
Financial liabilities
Trade & other payables		16,908		16,908		16,908		—		—		—		—
Exchangeable notes		81,382		99,900		—		—		—		—		99,900
Exchangeable note interest		999		105,894		1,998		1,998		3,996		11,988		85,914
		99,289		222,702		18,906		1,998		3,996		11,988		185,814

As at December 31, 2017 US$’000	Carryingamount US$’000		Contractualcash flows US$’000		6 mths orless US$’000		6 mths – 12 mths US$’000		1-2 years US$’000		2-5 years US$’000		>5 years US$’000
Financial liabilities
Trade & other payables		20,515		20,515		20,515		—		—		—		—
Exchangeable notes		92,955		115,000		—		—		—		—		115,000
Exchangeable note interest		1,150		126,500		2,300		2,300		4,600		13,800		103,500
		114,620		262,015		22,815		2,300		4,600		13,800		218,500

Schedule of Foreign Currency Risk Short Term Financial Assets and Liabilities

Foreign currency short term financial assets and liabilities which expose the Group to currency risk are disclosed below. The amounts shown are those reported to key management translated into US Dollars at the closing rate:

As at December 31, 2018	EUR			GBP			SEK			CAD			BRL			Other
	US$‘000			US$‘000			US$‘000			US$‘000			US$‘000			US$‘000
Cash		81			122			9			2,512			322			6
Trade and other receivable		894			113			38			430			2,065			6
Trade and other payables		(1,995	)		(51	)		(146	)		(103	)		(1,621	)		(2	)
Total exposure		(1,020	)		184			(99	)		2,839			766			10
As at December 31, 2017	EUR			GBP			SEK			CAD			BRL			Other
	US$‘000			US$‘000			US$‘000			US$‘000			US$‘000			US$‘000
Cash		235			443			5			2,107			443			16
Trade and other receivable		1,396			101			—			298			1,958			6
Trade and other payables		(1,936	)		(16	)		(239	)		(86	)		(2,235	)		—
Total exposure		(305	)		528			(234	)		2,319			166			22

Schedule of Sensitivity Analysis

A 10% strengthening of the US Dollar against the Euro at December 31, 2018 would have increased profit and other equity by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant.

	Profit or loss US$’000
December 31, 2018
Euro		1,818
December 31, 2017
Euro		2,158

A 10% weakening of the US Dollar against the Euro at December 31, 2018 would have decreased profit and other equity by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant.

	Profit or loss US$’000
December 31, 2018
Euro		(2,222	)
December 31, 2017
Euro		(2,637	)

Schedule of Maximum Credit Exposure of Financial Assets

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk is as follows:

	Carrying ValueDecember 31, 2018US$’000		Carrying ValueDecember 31, 2017US$’000
Third party trade receivables (Note 17)		21,318		17,242
Finance lease income receivable (Note 17)		835		1,185
Cash & cash equivalents (Note 18)		30,277		23,564
Short-term investments (Note 19)		—		34,043
		52,430		76,034

Schedule of Exposure of Trade Receivables by Geographic Location

The maximum exposure to credit risk for trade receivables and finance lease income receivable by geographic location is as follows:

	Carrying ValueDecember 31, 2018US$’000		Carrying Value December 31, 2017 US$’000
United States		10,049		8,682
Euro-zone countries		1,502		1,789
United Kingdom		132		185
Other European countries		84		21
Other regions		10,963		7,750
		22,730		18,427

Schedule of Exposure of Trade Receivables by Customer

The maximum exposure to credit risk for trade receivables and finance lease income receivable by type of customer is as follows:

	Carrying ValueDecember 31, 2018US$’000		Carrying Value December 31, 2017 US$’000
End-user customers		9,830		8,200
Distributors		11,860		10,003
Non-governmental organisations		1,040		224
		22,730		18,427

Schedule of Ageing of Trade Receivables

The ageing of trade receivables at December 31, 2018 is as follows:

	Gross		Impairment		Expected Credit Loss Rate			Gross		Impairment		Expected Credit Loss Rate
	2018		2018		2018			2017		2017		2017
	US$’000		US$’000		%			US$’000		US$’000		%
Not past due		14,494		4		—			10,770		—		—
Past due 0-30 days		3,761		17		0.5	%		3,190		31		1.0	%
Past due 31-120 days		3,438		36		1.0	%		1,906		50		2.6	%
Greater than 120 days		4,404		4,145		94.1	%		4,966		3,509		70.7	%
		26,097		4,202		—			20,832		3,590		—

Schedule of Movement in Allowance for Impairment of Trade Receivables

The movement in the allowance for impairment in respect of trade receivables during the year was as follows:

	2018			2017			2016
	US$’000			US$’000			US$’000
Balance at January 1		3,590			3,171			2,812
Charged to costs and expenses		682			662			415
Amounts written off during the year		(70	)		(243	)		(56	)
Balance at December 31		4,202			3,590			3,171

Schedule of Fair Values of Financial Assets/Liabilities

The table below sets out the Group’s classification of each class of financial assets/liabilities, their fair values and under which valuation method they are valued:

			Level 1			Level 2			Total carrying amount			Fair Value
	Note		US$’000			US$’000			US$’000			US$’000
December 31, 2018
Loans and receivables
Trade receivables		17		21,318			—			21,318			21,318
Cash and cash equivalents		18		30,277			—			30,277			30,277
Finance lease receivable		15,17		835			—			835			835
				52,430			—			52,430			52,430
Liabilities at amortised cost
Exchangeable note		24		—			(81,382	)		(81,382	)		(81,382	)
Finance lease payable		25		(962	)		—			(962	)		(962	)
Trade and other payables (excluding deferred income)		22		(16,596	)		—			(16,596	)		(16,596	)
Provisions		23		(50	)		—			(50	)		(50	)
				(17,608	)		(81,382	)		(98,990	)		(98,990	)
Fair value through profit and loss (FVPL)
Exchangeable note bond call option		24		—			—			—			—
Exchangeable note equity conversion option		24		—			(238	)		(238	)		(238	)
Exchangeable note bond put option		24		—			—			—			—
				—			(238	)		(238	)		(238	)
				34,822			(81,620	)		(46,798	)		(46,798	)

For financial reporting purposes, fair value measurements are categorized into Level 1, 2 or 3 based on the degree to which inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: valuation techniques for which the lowest level of inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly

Level 3: valuation techniques for which the lowest level of inputs that have a significant effect on the recorded fair value are not based on observable market data

			Level 1			Level 2			Total carrying amount			Fair Value
	Note		US$’000			US$’000			US$’000			US$’000
December 31, 2017
Loans and receivables
Trade receivables		17		17,242			—			17,242			17,242
Cash and cash equivalents		18		23,564			—			23,564			23,564
Short-term investments		19		34,043			—			34,043			34,043
Finance lease receivable		15,17		1,185			—			1,185			1,185
				76,034			—			76,034			76,034
Liabilities at amortised cost
Exchangeable note		24		—			(92,955	)		(92,955	)		(92,955	)
Finance lease payable		25		(886	)		—			(886	)		(886	)
Trade and other payables (excluding deferred income)		22		(20,237	)		—			(20,237	)		(20,237	)
Provisions		23		(50	)		—			(50	)		(50	)
				(21,173	)		(92,955	)		(114,128	)		(114,128	)
Fair value through profit and loss (FVPL)
Exchangeable note bond call option		24		—			360			360			360
Exchangeable note equity conversion option		24		—			(440	)		(440	)		(440	)
Exchangeable note bond put option		24		—			(1,790	)		(1,790	)		(1,790	)
				—			(1,870	)		(1,870	)		(1,870	)
				54,861			(94,825	)		(39,964	)		(39,964	)