EXCHANGEABLE NOTES (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019 US$’000		December 31, 2018 US$’000
Non-current assets
Exchangeable note bond call option		-		-
Non-current liabilities
Exchangeable note equity conversion option		4		238
Exchangeable note bond put option		-		-
		4		238
Total value of embedded derivatives – net liability		4		238

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, 2019 US$’000		December 31, 2018 US$’000
Balance at 1 January		81,382		92,955
Accretion interest		639		689
Less: purchased during the year at fair value		-		(12,262	)
		82,021		81,382

	December 31, 2019 US$’000		December 31, 2018 US$’000
Exchangeable senior notes		82,021		81,382
Total value of embedded derivatives – liability		4		238
Total non-current liabilities		82,025		81,620