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OTHER OPERATING (EXPENSE) / INCOME
 12 Months Ended
Dec. 31, 2024
Disclosure of other operating income [Abstract]  
OTHER OPERATING (EXPENSE) / INCOME
4.
OTHER OPERATING (EXPENSE) / INCOME
 
 
  
December 31, 2024
US$‘000
    
December 31, 2023
US$‘000
    
December 31, 2022
US$‘000
  
Other income
    
40
      
138
      
-
  
Rental income from premises
    
-
      
3
      
3
  
Government supports
    
(1,827
)
    
-
      
7
  
Government grants
    
-
      
-
      
333
  
 
                        
 
    
(1,787
)
    
141
      
343
  
 
The other income for year ended December 31, 2024 relates to income from a transition services agreement with the acquirers of Fitzgerald Industries for the provision of bookkeeping and I.T. services.
 
In October 2024, the Company was notified that it is the subject of a U.S. Department of Justice (DOJ) investigation relating to second-round Paycheck Protection Program (PPP) loans received by certain U.S. subsidiaries. At year-end, a payable of US$2,165,000 was recognised, covering the US$1,827,000 in loans and estimated interest of US$338,000. As the original loan income was recognised in other operating income, the reversal to the extent of the loan to be repaid has been recorded as a corresponding charge to other operating (expense)/income, noted as “Government supports”. The interest costs incidental to the loan repayment has been charged to finance costs.