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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]  
PROPERTY, PLANT AND EQUIPMENT
13.
PROPERTY, PLANT AND EQUIPMENT
 
 
  
Land
and buildings
US$‘000
    
Leasehold
improvements
US$‘000
    
Computers,
fixtures and
fittings
US$‘000
    
Plant and
equipment
US$‘000
    
Total
US$‘000
  
Cost
                              
At January 1, 2019
    
2,605
      
4,560
      
6,585
      
40,064
      
53,814
  
Adjustment on transition to IFRS 16
    
20,961
      
—
      
149
      
75
      
21,185
  
Additions
    
681
      
71
      
168
      
1,905
      
2,825
  
Disposals or retirements
    
—
      
(1,626
)
    
(2,610
)
    
(3,314
)
    
(7,550
)
Exchange adjustments
    
22
      
—
      
—
      
(54
)
    
(32
)
 
                                        
At December 31, 2019
    
24,269
      
3,005
      
4,292
      
38,676
      
70,242
  
 
                                        
At January 1, 2020
    
24,269
      
3,005
      
4,292
      
38,676
      
70,242
  
Additions
    
8
      
41
      
96
      
2,766
      
2,911
  
Disposals or retirements
    
—
      
(299
)
    
(66
)
    
(5,758
)
    
(6,123
)
Exchange adjustments
    
10
      
(77
)
    
(13
)
    
(1,845
)
    
(1,925
)
 
                                        
At December 31, 2020
    
24,287
      
2,670
      
4,309
      
33,839
      
65,105
  
 
                                        
Accumulated depreciation and impairment losses
                                        
At January 1, 2019
    
(1,934
)
    
(3,243
)
    
(5,783
)
    
(37,492
)
    
(48,452
)
Charge for the year
    
(1,545
)
    
(105
)
    
(200
)
    
(680
)
    
(2,530
)
Adjustment on transition to IFRS 16
    
(10,984
)
    
—
      
(40
)
    
(75
)
    
(11,099
)
Impairment loss as at December 31, 2019
    
(4,024
)
    
(233
)
    
(276
)
    
(1,816
)
    
(6,349
)
Disposals or retirements
    
—
      
1,544
      
2,618
      
3,331
      
7,493
  
Reallocations / reclassifications
    
—
      
—
      
—
      
(5
)
    
(5
)
Exchange adjustments
    
(6
)
    
—
      
(1
)
    
(3
)
    
(10
)
 
                                        
At December 31, 2019
    
(18,493
)
    
(2,037
)
    
(3,682
)
    
(36,740
)
    
(60,952
)
 
                                        
At January 1, 2020
    
(18,493
)
    
(2,037
)
    
(3,682
)
    
(36,740
)
    
(60,952
)
Charge for the year
    
(783
)
    
(146
)
    
(181
)
    
(604
)
    
(1,714
)
Impairment loss as at December 31, 2020
    
(347
)
    
(78
)
    
(180
)
    
(1,190
)
    
(1,795
)
Disposals or retirements
    
—
      
299
      
84
      
5,590
      
5,973
  
Exchange adjustments
    
(6
)
    
78
      
13
      
1,845
      
1,930
  
 
                                        
At December 31, 2020
    
(19,629
)
    
(1,884
)
    
(3,946
)
    
(31,099
)
    
(56,558
)
                                       
Carrying amounts
                                        
At December 31, 2020
    
4,658
      
786
      
363
      
2,740
      
8,547
  
 
                                        
At December 31, 2019
    
5,776
      
968
      
610
      
1,936
      
9,290
  

 
Right-of-use assets
 
The right-of-use assets are included in the same line item as the corresponding underlying assets would be presented if they were owned.  The Group has used the modified retrospective application method for its first time application of IFRS 16, Leases in 2019. Right-of-use assets were assessed for impairment on transition by applying IAS 36, Impairment as at January 1, 2019. Right of Use assets leased by three Cash Generating Units, in which there was an unallocated impairment loss as at December 31, 2018, were impaired by a total of US$11,099,000. This amount is shown in the Consolidated Statement of Changes in Equity as a movement in Accumulated Surplus.

   
US$000
  
Right-of-use assets cost at transition before impairment
    
21,185
  
Impairment adjustment on transition
    
(11,099
)
         
Right-of-use assets value at transition after impairment
    
10,086
  
 
The following is a reconciliation of the financial statement line items from IAS 17 to IFRS 16 at January 1, 2019:

   
Carrying amount at December 31, 2018
    
Remeasurement
    
Impairment
    
IFRS 16 carrying amount at January 1, 2019
  
   
US$000
    
US$000
    
US$000
    
US$000
  
Property, plant & equipment
    
5,362
      
21,185
      
(11,099
)
    
15,448
  
Lease liabilities
    
(962
)
    
(21,185
)
    
-
      
(22,147
)
Retaining earnings
    
(55,319
)
    
-
      
11,099
      
(44,220
)
                                 
Total
    
(50,919
)
    
-
      
-
      
(50,919
)
 
Additional information on the right-of-use assets by class of assets is as follows:

   
Carrying amount
At December 31, 2020
    
Depreciation Charge
Year ended December 31, 2020
    
Impairment Charge
Year ended December 31, 2020
  
             
   
US$000
    
US$000
    
US$000
  
Buildings
    
4,200
      
(673
)
     (347 )
Computer equipment
    
3
      
(4
)
    
-
  
Plant and Equipment
    
-
      
(70
)
    
(154
)
                         
     
4,203
      
(747
)
    
(501
)

   
Carrying amount
At December 31, 2019
    
Depreciation
Year ended December 31, 2019
    
Impairment
  
           
Year ended December 31, 2019
  
   
US$000
    
US$000
    
US$000
  
Buildings
    
5,220
      
(1,523
)
    
(3,913
)
Computer equipment
    
7
      
(39
)
    
(63
)
                         
     
5,227
      
(1,562
)
    
(3,976
)

Income from sub-letting right-of-use buildings amounted to US$3,000 in the year ended December 31, 2020 (2019: USD$3,000).



Right-of-Use assets at 31 December 2020
  
No. of Right-of-Use leased assets
  
Range of remaining term in years
  
Average remaining lease term (years)
    
No. of Leases with extension options
    
No. of Leases with options to purchase
    
No. of leases with variable payments linked to index
    
No. of leases with termination options
  
Building
    
12
  
1 to 13
    
4
      
1
      
-
      
2
      
4
  
Vehicle
    
16
  
1 to 3
    
2
      
-
      
16
      
-
      
16
  
I.T. and office equipment
    
10
  
1 to 2
    
1
      
-
      
-
      
-
      
1
  

Right-of-Use assets at 31 December 2019
  
No. of Right-of-Use leased assets
  
Range of remaining term in years
  
Average remaining lease term (years)
    
No. of Leases with extension options
    
No. of Leases with options to purchase
    
No. of leases with variable payments linked to index
    
No. of leases with termination options
  
Building
    
13
  
1 to 14
    
5
      
1
      
-
      
2
      
4
  
Vehicle
    
9
  
1 to 2
    
1
      
-
      
9
      
-
      
9
  
I.T. and office equipment
    
11
  
1 to 2
    
2
      
-
      
-
      
-
      
1
  


The details of the impairment review are described in Note 14. When an impairment loss is identified in a cash generating unit, it must be first allocated to reduce the carrying amount of any goodwill allocated to the cash generating unit and then to the other assets of the unit pro rata on the basis of the carrying amount of each asset in the unit. In this manner, an impairment loss of US$1,795,000 was allocated to property, plant and equipment as at December 31, 2020. The recoverable amount of property, plant and equipment was determined to be the value in use of each cash generating unit.

The details of the impairment review are described in Note 14. When an impairment loss is identified in a cash generating unit, it must be first allocated to reduce the carrying amount of any goodwill allocated to the cash generating unit and then to the other assets of the unit pro rata on the basis of the carrying amount of each asset in the unit. In this manner, an impairment loss of US$6,349,000 was allocated to property, plant and equipment as at December 31, 2019. The recoverable amount of property, plant and equipment was determined to be the value in use of each cash generating unit.


Assets held under operating leases (where the Company is the lessor)
 
The Company has a number of assets included in plant and equipment which generate operating lease revenue for the Group. The net book value of these assets as at December 31, 2020 and 2019 is US$Nil following full write down of the assets due to group impairment (refer to Note 14). Depreciation charged on these assets in 2020 amounted to US$21,000 (2019: US$7,000).
 
Property, plant and equipment under construction

There were no assets under construction included in property, plant and equipment at December 31, 2020 (2019: US$Nil).