XML 22 R12.htm IDEA: XBRL DOCUMENT v3.21.2
INVESTMENTS
 6 Months Ended
Jun. 30, 2021
INVESTMENTS [Abstract]  
INVESTMENTS
5.
INVESTMENTS



The following table sets forth a breakdown of the categories of short-term and long-term investments held by the Company:


   
As of
  
   
December 31,
2020
    
June 30,
2021
  
   
$
   
$
 
Short-term investments
                
                 
Debt securities:
                
   Held to maturity
    
28,330
      
718,517
  
   Available-for-sale
    
21,769
      
168,091
  
Equity securities
    
76,000
      
75,533
  
                 
     
126,099
      
962,141
  
Long-term investments
                
                 
Debt securities:
                
   Held to maturity
    
68,854
      
67,463
  
   Available-for-sale
    
5,276
      
45,385
  
Equity securities
    
21,419
      
42,684
  
Equity method investments
    
94,933
      
108,848
  
Investments carried at fair value
    
–
      
21,992
  
                 
     
190,482
      
286,372
  



Held to maturity investments includes time deposits placed with financial institutions, medium-term notes and sovereign bonds. Available-for-sale securities includes sovereign bonds, exchangeable loan, convertible loan and corporate bonds.



Short-term equity securities represent investment in marketable equity securities and warrant. The unrealized fair value loss of nil and $21,118 related to the marketable equity securities had been recognized in the consolidated statements of operations as "Investment gain (loss), net" during the six months ended June 30, 2020 and 2021, respectively.



Investments carried at fair value represents unquoted equity securities which are accounted for in accordance with ASC 946 Financial Services—Investment Companies.



The following table summarizes the cost or amortized cost, gross unrecognized gains and losses, gross unrealized gains and losses, and fair value of the Company’s debt securities and investments carried at fair value as of December 31, 2020 and June 30, 2021 are shown as below:


   
As of December 31, 2020
  
   
Cost or Amortized cost
    
Gross unrecognized
gains
    
Gross unrecognized losses
    
Gross unrealized gains
    
Gross unrealized losses
    
Fair value
  
     $      $      $      $      $      $  
Short-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
28,330
      
–
      
(1
)
    
–
      
–
      
28,329
  
   Available-for-sale
    
20,859
      
–
      
–
      
910
      
–
      
21,769
  
                                                 
Long-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
68,854
      
3,197
      
(23
)
    
–
      
–
      
72,028
  
   Available-for-sale
    
5,174
      
–
      
–
      
102
      
–
      
5,276
  
                                                 
     
123,217
      
3,197
      
(24
)
    
1,012
      
–
      
127,402
  


   
As of June 30, 2021
  
   
Cost or Amortized cost
    
Gross unrecognized
gains
    
Gross unrecognized losses
    
Gross unrealized gains
    
Gross unrealized losses
    
Fair value
  
     $      $      $      $      $      $  
Short-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
718,517
      
–
      
–
      
–
      
–
      
718,517
  
   Available-for-sale
    
170,872
      
–
      
–
      
77
      
(2,858
)
    
168,091
  
                                                 
Long-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
67,463
      
2,123
      
(495
)
    
–
      
–
      
69,091
  
   Available-for-sale
    
45,003
      
–
      
–
      
426
      
(44
)
    
45,385
  
Investments carried at fair value
    
21,992
      
–
      
–
      
–
      
–
      
21,992
  
                                                 
     
1,023,847
      
2,123
      
(495
)
    
503
      
(2,902
)
    
1,023,076