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INVENTORIES

12 Months Ended

Dec. 31, 2015

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

7. INVENTORIES

Inventories from the continuing operations consist of the following:

		December 31,
		2015			2014
		US$			US$
					(Restated)
Inventories			4,976,566			6,796,254
Less: provision for slow moving inventories			(1,001,452)			(1,101,188)
Net inventories			3,975,114			5,695,066
Less: inventories, net, held for discontinued operations			-			(1,611,728)
Inventories, net, held for continuing operations			3,975,114			4,083,338

Movement of provision for slow moving inventories is as follows:

		December 31,
		2015			2014
		US$			US$
					(Restated)
Beginning balance			1,101,188			53,281
Addition			1,934,836			1,049,165
Less: write-off			(1,978,052)			-
Exchange rate effect			(56,520)			(1,258)
Ending balance			1,001,452			1,101,188
Less: balance held for discontinued operations			(967,363)			(1,065,196)
Ending balance held for continuing operations			34,089			35,992

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- References

No definition available.

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- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a, b, c
-Article 5

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