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Investment in associate company and business combination (Tables)
 12 Months Ended
Dec. 31, 2022
Investment in associate company and business combination [Abstract]  
Investment in Associate Company
(Dollars in thousands)
  
2022
    
2021
Investment in associate company
  
$
-
    
$
5,406
Share of Profit of 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
  
2022
    
2021
  
Profit after taxation
  
$
1,327
    
$
1,278
  
Other comprehensive income for the year, net of tax
  
$
(66
)
  
$
(74
)
Total comprehensive income for the year
  
$
1,261
    
$
1,204
  
Assets Acquired and Liabilities Assumed

Assets acquired and liabilities assumed



The preliminary fair values of the identifiable assets and liabilities of Goodwood as at the date of the acquisition were:



As of May 31, 2022
(Dollars in thousands)
  
FV recognized on
acquisition
  
ASSETS
      
Current assets
  
$
9,912
  
Non-current assets
    
2,522
  
Total assets
  
$
12,433
  
LIABILITIES
        
Current liabilities
  
$
(570
)
Non-current liabilities
    
(2,342
)
Total liabilities
  
$
(2,912
)
TOTAL IDENTIFIABLE NET ASSETS AT FAIR VALUE
  
$
9,521
  
         
Previously held equity interest measured at fair value
  
$
(6,030
)
Non-controlling interest measured at fair value
    
(4,453
)
Goodwill arising on acquisition
    
1,356
  
PURCHASE CONSIDERATION TRANSFERRED
  
$
394
  

(Dollars in thousands)
  
Cash flow on
acquisition
 
Net cash acquired with the subsidiary
  
$
8,660
  
Cash paid
    
(394
)
NET CASH FLOW ON ACQUISITION
  
$
8,267