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Employee benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Employee benefits  
Schedule of reconciliations of defined benefit obligation at present value and plan asset at fair value

Reconciliations of defined benefit obligation at present value and plan asset at fair value are as follows:

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

 

 

2018

 

2019

 

 

 

(in thousands)

 

 

 

 

 

 

Present value of the defined benefit obligations

 

$

3,184

 

3,142

Fair value of plan assets

 

 

(3,565)

 

(3,730)

 

 

$

(381)

 

(588)

Net defined benefit liabilities

 

 

151

 

50

Prepaid pension costs

 

 

(532)

 

(638)

 

 

$

(381)

 

(588)

 

Schedule of movements in present value of the defined benefit obligations

(i)

Movements in present value of the defined benefit obligations

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2018

    

2019

 

 

(in thousands)

Balance at beginning of year

 

$

4,460

 

3,184

Service costs

 

 

20

 

26

Interest expense

 

 

76

 

121

Remeasurements loss (gain):

 

 

  

 

  

Actuarial loss (gain) arising from:

 

 

  

 

 

-Changes in demographic assumptions

 

 

47

 

 2

-Experience adjustment

 

 

10

 

(149)

-Change in financial assumptions

 

 

(1,217)

 

53

Refund of overfunding

 

 

-

 

(18)

Effect of changes in exchange rates

 

 

(212)

 

(77)

Balance at end of year

 

$

3,184

 

3,142

 

Schedule of movements in the fair value of plan assets

(i)

Movements in the fair value of plan assets

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2018

    

2019

 

 

(in thousands)

Balance at beginning of year

 

$

3,410

 

3,565

Interest income

 

 

57

 

140

Remeasurements gain (loss):

 

 

  

 

 

-Return on plan assets excluding interest income

 

 

81

 

120

Contributions paid by the employer

 

 

132

 

56

Refund of overfunding

 

 

-

 

(70)

Effect of changes in exchange rate

 

 

(115)

 

(81)

Balance at end of year

 

$

3,565

 

3,730

 

Schedule of expenses recognized in profit or loss

(i)

Expenses recognized in profit or loss

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2017

 

2018

    

2019

 

 

(in thousands)

 

 

 

 

 

 

 

 

Current service costs

 

$

15

 

20

 

26

Interest expense (income)

 

 

19

 

19

 

(19)

 

 

$

34

 

39

 

 7

Cost of revenues

 

$

 9

 

14

 

 6

Research and development

 

 

17

 

18

 

 1

General and administrative

 

 

 5

 

 4

 

-

Sales and marketing

 

 

 3

 

 3

 

-

 

 

$

34

 

39

 

 7

 

Schedule of remeasurement of net defined benefit liability recognized in other comprehensive income

(i)

Remeasurement of net defined benefit liability recognized in other comprehensive income

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2018

    

2019

 

 

(in thousands)

 

 

 

 

 

 

Balance at beginning of year

 

$

1,262

 

129

Recognized during the period

 

 

(1,133)

 

(189)

Balance at end of year

 

$

129

 

(60)

 

Schedule of principal actuarial assumptions

The principal actuarial assumptions were as follows:

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

 

 

 

2018

 

2019

 

Discount rate

 

1.22%‑1.24

%

0.87%-0.88

%

Rate of increase in compensation levels

 

3.00

%

3.00

%

 

Schedule of sensitivity analysis

Reasonably possible changes at December 31, 2018 and 2019 to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below.

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

December 31, 2019

 

    

    

+ 0.5%

    

- 0.5%

    

+ 0.5%

    

‑0.5%

 

 

 

(in thousands)

 

(in thousands)

Discount rate

 

 

(284)

 

317

 

(272)

 

302

Rate of increase in compensation levels

 

 

310

 

(281)

 

294

 

(268)