28.	RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES

The changes in the Group’s liabilities arising from financing activities can be classified as follows:

	Note	Borrowings & derivative financial instruments US$’000			Lease liabilities US$’000

Balance at January 1, 2023	23,24		59,826			13,943
Cash-flows:
Principal amount loaned – term loan			5,000			-
Loan origination costs paid			(194	)		-
Interest paid for senior secured term loan			(7,314	)		-
Interest paid for convertible note			(300	)		-
Interest paid for exchangeable notes			(8	)		-
Repayment of term loan			(10,050	)
Repayment of leases			-			(2,318	)
Penalty paid for early settlement of term loan			(905	)		-

Non-cash:						-
Interest charged			7,622			-
Penalty for early settlement charged			905			-
Derivative financial asset at date of issue	23		11			-
Disposals (related to Right of Use assets)			-			(106	)
Additions (related to Right of Use assets)			-			112
Exchange adjustment			-			311
Accretion interest			1,927			624
Fair value of derivative liability - warrants			(1,133	)		-

Balance at December 31, 2023	23,24		55,387			12,566

	Note	Borrowings & derivative financial instruments US$’000			Lease liabilities US$’000

Balance at January 1, 2022	23,24		83,343			15,845
Cash-flows:
Principal amount loaned – term loan			81,250			-
Principal amount loaned – convertible note			20,000			-
Loan origination costs paid			(3,591	)		-
Interest paid for term loan			(6,424	)		-
Interest paid for convertible note			(199	)		-
Interest paid for exchangeable notes			(1,293	)		-
Repayment of exchangeable notes			(86,730	)		-
Repayment of term loan			(34,500	)		-
Repayment of CEBA loan			(23	)		(2,761	)
Penalty paid for early settlement of term loan			(3,450	)		-

Non-cash:
Interest charged			7,914			-
Penalty for early settlement charged			3,450			-
Shares issued as consideration for purchase of Exchangeable Notes			(6,133	)		-
Equity component of convertible note at date of issue			(6,709	)		-
Derivative financial asset at date of issue			202			-
Loss on disposal of Exchangeable Notes			9,678			-
Additions (related to Right of Use assets)			-			830
Exchange adjustment			-			(628	)
Loan forgiven			(7	)		-
Accretion interest			3,351			657
Fair value of derivative liability - warrants			(303	)		-

Balance at December 31, 2022	23,24		59,826			13,943