XML 69 R55.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments in Associates (Tables)
12 Months Ended
Dec. 31, 2017
Text Block1 [Abstract]  
Associates of the Company

The associates of the Company are set out below:

 

 

 

 

 

 

 

Percentage of

equity interest

 

 

 

 

 

 

 

As of December 31

 

Company Name

 

Nature of business

 

Country of

incorporation

 

2017

 

 

2016

 

Shandong Pacific Rubber Cable Co., Ltd. (“SPRC”)

 

Manufacturing of rubber cable

 

PRC

 

 

25.00

%

 

 

25.00

%

Siam Pacific Holding Company Limited (“SPHC”)

 

Investment & holding company

 

Thailand

 

 

49.00

%

 

 

49.00

%

Loxpac (Thailand) Company Limited (“Loxpac”) (Formerly

   known as “Loxley Pacific Co., Ltd.)

 

Providing telecommunication service

 

Thailand

 

 

21.39

%

 

 

21.39

%

Loxpac Hong Kong Co., Limited (“Loxpac HK”) (Formerly

   known as “Loxley Pacific Hong Kong Co., Limited” )

 

Investment & holding company

 

Hong Kong

 

 

23.10

%

 

 

23.10

%

 

Movements in Investments in Associates

 

 

As of  December 31,

 

 

 

2017

 

 

2016

 

 

 

US$’000

 

 

US$’000

 

Balance at January 1

 

 

786

 

 

 

1,633

 

Additions

 

 

 

 

 

 

Share of loss of associates

 

 

(3

)

 

 

(710

)

Impairment of investment in associates - SPRC

 

 

 

 

 

(126

)

Exchange difference

 

 

78

 

 

 

(11

)

Balance at December 31

 

 

861

 

 

 

786

 

 

Summarized Financial Information of Investments in Associates

The following table summarized financial information of the Company’s investments in associates:

 

 

 

As of December 31, 2017

 

 

 

SPHC

 

 

Total

 

 

 

US$’000

 

 

US$’000

 

Current assets

 

 

14

 

 

 

14

 

Non-current assets

 

 

1,926

 

 

 

1,926

 

Current liabilities

 

 

(3

)

 

 

(3

)

Non-current liabilities

 

 

(180

)

 

 

(180

)

Equity

 

 

1,757

 

 

 

1,757

 

 

 

 

 

 

 

 

 

 

Reconciliation to the Company’s investments in

   associates:

 

 

 

 

 

 

 

 

Percentage of equity interest

 

 

49

%

 

 

 

 

Carrying amount of the investment

 

 

861

 

 

 

861

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

Loss

 

 

(5

)

 

 

(5

)

 

 

 

 

 

 

 

 

 

Share of the associates’ profit for the year:

 

 

(3

)

 

 

(3

)

 

 

 

As of December 31, 2016

 

 

 

SPRC

 

 

SPHC

 

 

Total

 

 

 

US$’000

 

 

US$’000

 

 

US$’000

 

Current assets

 

 

93,461

 

 

 

18

 

 

 

93,479

 

Non-current assets

 

 

2,753

 

 

 

1,753

 

 

 

4,506

 

Current liabilities

 

 

(95,710

)

 

 

(3

)

 

 

(95,713

)

Non-current liabilities

 

 

 

 

 

(164

)

 

 

(164

)

Equity

 

 

504

 

 

 

1,604

 

 

 

2,108

 

 

 

 

As of December 31, 2016

 

 

 

SPRC

 

 

SPHC

 

 

Total

 

 

 

US$’000

 

 

US$’000

 

 

US$’000

 

Reconciliation to the Company’s investments in

   associates:

 

 

 

 

 

 

 

 

 

 

 

 

Percentage of equity interest

 

 

25

%

 

 

49

%

 

 

 

 

Carrying amount of the investment

 

 

 

 

 

786

 

 

 

786

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

25,016

 

 

 

 

 

 

25,016

 

Loss

 

 

(2,826

)

 

 

(5

)

 

 

(2,831

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Share of the associates’ profit for the year:

 

 

(707

)

 

 

(3

)

 

 

(710

)

 

 

As of December 31, 2015

 

 

 

SPRC

 

 

SPHC

 

 

Total

 

 

 

US$’000

 

 

US$’000

 

 

US$’000

 

Revenue

 

 

28,989

 

 

 

 

 

 

28,989

 

Loss

 

 

(3,194

)

 

 

(6

)

 

 

(3,200

)

Share of the associates’ profit for the year:

 

 

(798

)

 

 

(3

)

 

 

(801

)