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Concentration of credit risks

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentration of credit risks

Note 5.      Concentration of credit risks

Financial instruments that are potentially subject to credit risk consist primarily of cash and cash equivalents and trade accounts receivable. Our cash is held with large financial institutions. Management believes that the financial institutions that hold our investments are financially sound and accordingly, are subject to minimal credit risk. Deposits held with banks may exceed the amount of insurance provided on such deposits.

The Group sells to large, international customers and, as a result, may maintain individually significant trade accounts receivable balances with such customers during the year. We generally do not require collateral on trade accounts receivable. Summarized below are the clients whose revenue were 10% or higher than the respective total consolidated net sales for fiscal years 2022, 2021 or 2020, and the clients whose trade accounts receivable balances were 10% or higher than the respective total consolidated trade accounts receivable balance for fiscal years 2022 and 2021:

Revenue

Receivables

	Revenue concentration (% of total net sales)				Receivables concentration  (% of total accounts receivable)
	12 months ended December 31,				As at December 31,
	2022	2021	2020		2022	2021
IoT operating segment
Multinational electronics contract manufacturing company	14%	10%	18%		30%	13%
International equipment and software manufacturer	5%	8%	9%		11%	0%

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- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-URI https://asc.fasb.org/topic&trid=2134479

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- References

No definition available.

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