Property and Equipment, Net

12 Months Ended

Dec. 31, 2012

5. Property and Equipment, Net

Property and equipment, net consists of the following:


	As of December 31,
	2011			2012
	$			$
Leasehold improvements		1,754,027			1,987,265
Furniture, fixtures and equipment		2,425,928			2,953,863
Motor vehicles		599,433			741,551
Software		655,186			1,378,745

		5,434,574			7,061,424

Accumulated depreciation		(1,806,326	)		(3,429,370	)

		3,628,248			3,632,054
Construction in progress		808,688			755,899

		4,436,936			4,387,953

Depreciation expense was $390,327, $1,001,862 and $1,814,528 for the years ended December 31, 2010, 2011 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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