IMPAIRMENT CHARGES

12 Months Ended

Dec. 31, 2020

Disclosure of impairment charges and inventory provisioning [Abstract]

IMPAIRMENT CHARGES

7. IMPAIRMENT CHARGES

In accordance with IAS 36, Impairment of Assets, the Group carries out an annual impairment review of the asset valuations. A number of factors impacted this calculation including the Company’s market capitalisation at 31 December 2020, the cost of capital, cash flow projections and net asset values across each of the Company’s cash generating units.

The impact of the above items on the statement of operations for the year ended December 31, 2020, December 31, 2019 and December 31, 2018 was as follows:

	December		December		December
		31, 2020		31, 2019		31, 2018
	US$’000		US$’000		US$’000
Selling, general & administration expenses
Impairment of PP&E (Note 13)		1,795		6,349		6,112
Impairment of goodwill and other intangible assets (Note 14)		15,422		16,570		19,212
Impairment of prepayments (Note 18)		562		1,376		1,608
Total impairment loss		17,779		24,295		26,932
Income tax impact of impairment loss		0		148		(1,752	)
Total impairment loss after tax		17,779		24,443		25,180