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Income Tax (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax [Abstract]

Schedule of Income Tax Expense

The income tax expense of the company for the Relevant Periods is analyzed as follows:

		Year ended December 31,
		2022				2023				2024
						revised
		$’000				$’000				$’000
Current			—				—				—
Deferred			—				—				—
Total			—				—				—

Schedule of Reconciliation of the Tax Expense Applicable to Loss Before Tax at the Statutory Rate to the Tax Expense at the Effective Tax Rate

A reconciliation of the tax expense applicable to loss before tax at the statutory rate to the tax expense at the effective tax rate is as follows:

		Year ended December 31,
		2022				2023				2024
						revised
		$’000				$’000				$’000
Loss before tax			(58,790	)			(109,228	)			(51,869	)
Tax at the statutory tax rate (25%)			(14,698	)			(27,307	)			(12,967	)
Foreign rate differential			2,933				15,111				3,349
Expenses not deductible for tax			2,171				126				92
Income not subject to tax			(4	)			—				—
Additional deductible allowance for qualified research and development costs			(1,681	)			(2,338	)			(1,506	)
Non tax-effective share-based payments			—				—				2,150
Unrecognized deferred tax assets			11,279				14,408				8,882
Current income tax expense			—				—				—
Tax charge at the Group’s effective rate			—				—				—	%

Schedule of Deferred Tax Assets

A deferred tax asset has not been recognised for the following:

		Year ended December 31
		2023				2024
		revised
		$’000				$’000
Deductible temporary differences			13,306				14,080
Unused tax losses			29,876				37,984
Total			43,182				52,064