IMPAIRMENT CHARGES

12 Months Ended

Dec. 31, 2021

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 periodic impairment reviews of the asset valuations. A number of factors impacted this calculation including the Company’s market capitalization during the year ended 31 December 2021, 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, 2021, December 31, 2020, December 31, 2019 was as follows:

	December		December		December
	31, 2021		31, 2020		31, 2019
	US$’000		US$’000		US$’000
Selling, general & administration expenses
Impairment of PP&E (Note 13)		2,508		1,795		6,349
Impairment of goodwill and other intangible assets (Note 14)		3,853		15,422		16,570
Impairment of prepayments (Note 18)		583		562		1,376
Total impairment loss		6,944		17,779		24,295
Income tax impact of impairment loss		-		-		148
Total impairment loss after tax		6,944		17,779		24,443