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Investment in associate company (Tables)

12 Months Ended

Dec. 31, 2021

Investment in associate company [Abstract]

Investment in Associate Company

(Dollars in thousands)		2021				2020
Investment in associate company		$	5,406			$	5,233

Details of Associate

Details of associate are as follows:

Name of associate		Principal activities		Place of incorporation and business		Effective equity interest
						2021		2020
Goodwood Ship Management Pte. Ltd.		Ship management		Singapore		50%		50%

Share of Profit of the Associate Using in Equity Method

The following summarizes the share of profit of the associate that is accounted for using the equity method:

(Dollars in thousands)
Company’s share of		2021				2020
Profit after taxation		$	1,278			$	1,193
Other comprehensive income for the year, net of tax		$	(74	)		$	104
Total comprehensive income for the year		$	1,204			$	1,297

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The disclosure of associates. [Refer: Associates [member]]

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