Each segment engages in business activities which generate revenues and incur expenses. Based upon the information provided to the Company’s chief operating decision maker (“CODM”) to make decisions on resource allocation and operating performance evaluation, the Company has determined that it has three reportable segments.

The Company organizes its business segments along reporting lines and has three operating segments, consisting of the North Asia region, the Thailand region and the Rest of the World (“ROW”) region. The Company considers the economic characteristics similarity in determining the reportable segments.

As the three operating segments exceed the quantitative thresholds, they are also reportable segments. The accounting policies for segment information, including transactions entered between segments are generally the same as those described in the summary of significant accounting policies.

During 2018, CODM changed the measures of profitability by operating segments, replacing gross profit and gross profit margin with operating profit (loss) and operating profit (loss) margin. This change reflects a better explanation of the elements of performance. This change has been applied to comparative figures for 2017 and 2016 presented in this document.

Inter-segment revenues are eliminated upon consolidation and reflected in the “adjustments and eliminations” column. All other adjustments and eliminations are part of detailed reconciliations presented further below.

Year ended December 31, 2018	North Asia			Thailand			ROW			Total segments			Corporate expense adjustments and eliminations			Consolidated
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Revenues
External customers		103,647			213,424			108,869			425,940			—			425,940
Inter-segment		4,076			392			6,308			10,776			(10,776	)		—
Segment operating profit/(loss)		5,234			9,539			(2,306	)		12,467			(3,143	)		9,324
Depreciation and amortization		(829	)		(2,836	)		(1,333	)		(4,998	)		(20	)		(5,018	)
Impairment of property, plant and equipment		—			(11	)		—			(11	)		—			(11	)
Interest income		117			611			42			770			(288	)		482
Interest expense		(397	)		(748	)		(34	)		(1,179	)		(21	)		(1,200	)
Income tax (expense)/benefit		(1,212	)		(2,152	)		384			(2,980	)		(906	)		(3,886	)

Other disclosures
Capital expenditure		1,188			2,859			451			4,498			10			4,508

Year ended December 31, 2017	North Asia			Thailand			ROW			Total segments			Corporate expense adjustments and eliminations			Consolidated
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Revenues
External customers		101,533			206,485			117,197			425,215		—				425,215
Inter-segment		890			1,044		—				1,934			(1,934	)		—
Segment operating profit/(loss)		3,256			11,053			1,205			15,514			(3,074	)		12,440
Depreciation and amortization		(979	)		(2,760	)		(1,314	)		(5,053	)		(3	)		(5,056	)
Impairment of property, plant and equipment		(213	)		(10	)	—				(223	)	—				(223	)
Interest income		51			845			61			957			(81	)		876
Interest expense		(428	)		(553	)		(52	)		(1,033	)		67			(966	)
Income tax (expense)/benefit		(1,395	)		(2,727	)		(342	)		(4,464	)		(676	)		(5,140	)

Other disclosures
Capital expenditure		991			3,332			590			4,913			—			4,913

Year ended December 31, 2016	North Asia			Thailand			ROW			Total segments			Corporate expense adjustments and eliminations			Consolidated
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Revenues
External customers		93,931			152,935			137,699			384,565			—			384,565
Inter-segment		2,522			(41	)		—			2,481			(2,481	)		—
Segment operating profit/(loss)		173			5,463			2,501			8,137			(2,854	)		5,283
Depreciation and amortization		(1,423	)		(2,689	)		(1,439	)		(5,551	)		(3	)		(5,554	)
Impairment of property, plant and equipment		(1,132	)		(1,392	)	—				(2,524	)		—			(2,524	)
Interest income		34			1,022			97			1,153			(108	)		1,045
Interest expense		(692	)		(282	)		(86	)		(1,060	)		98			(962	)
Income tax (expense)/benefit		2,844			(2,059	)		(538	)		247			(757	)		(510	)

Other disclosures
Capital expenditure		697			4,198			275			5,170			—			5,170

Corporate expenses, gain on disposal of investment, and share of gain (loss) of associates are not allocated to individual segments as the underlying instruments are managed on a group basis.

Capital expenditure consists of additions of property, plant and equipment, and intangible assets.

	For the year ended December 31,
	2018			2017			2016
	US$’000			US$’000			US$’000
Segment operating profit		12,467			15,514			8,137
Corporate expenses		(3,143	)		(3,074	)		(2,854	)
		9,324			12,440			5,283
Other operating income		805			5,084			5,441
Other operating expenses		(1,445	)		(909	)		(3,386	)
Operating profit		8,684			16,615			7,338
Finance costs		(1,378	)		(1,221	)		(1,147	)
Finance income		482			876			1,045
Share of loss of associates		(3	)		(3	)		(710	)
Impairment of investment in associates		—			—			(126	)
Loss on liquidation of subsidiary		—			(261	)		—
Exchange gain / (loss)		1,741			2,784			(38	)
Other income		1,817			214			267
Other expense		(11	)		(336	)		(94	)
Profit/(loss) before tax		11,332			18,668			6,535

									Corporate
									adjustments
	North Asia		Thailand		ROW		Total segments		and eliminations		Consolidated
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
As of December 31, 2018
Total assets		54,250		173,398		70,574		298,222		7,576		305,798
Total liabilities		20,169		42,887		14,015		77,071		6,911		83,982
As of December 31, 2017
Total assets		63,853		181,232		85,838		330,923		3,920		334,843
Total liabilities		28,928		55,877		21,647		106,452		5,565		112,017

	As of December 31,
	2018			2017
	US$’000			US$’000
Segment operating assets		298,222			330,923
Corporate and other assets		2,869			2,916
Investment in associates		864			861
Deferred tax assets		3,919			3,022
Inter-segment elimination		(76	)		(2,879	)
Total assets		305,798			334,843

The Company’s disaggregated revenues transitioned from reporting of Manufactured Products, Distributed Products and SDI segments in 2017 to reporting of Power, Enamel and Others product lines in 2018. The updated reporting of results best reflects the relevant information and granularity desired by all stakeholders to conduct decisions and operations. Reported results of Power, Enamel and Others product lines provide improved understanding and insight to the performance of the Company and its products and services.

Revenue from external customers is summarized as the following major categories:

Year ended December 31, 2018	North Asia		Thailand		ROW		Total segments		Corporate expense adjustments and eliminations		Consolidated
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Revenue from external customers
Power		—		64,771		92,130		156,901		—		156,901
Enamel		103,647		114,247		—		217,894		—		217,894
Others*		—		34,406		16,739		51,145		—		51,145
		103,647		213,424		108,869		425,940		—		425,940
Timing of revenue recognition
At a point in time		103,647		213,212		92,133		408,992		—		408,992
Over time		—		212		16,736		16,948		—		16,948
		103,647		213,424		108,869		425,940		—		425,940
* includes revenues from SDI service contracts, fabrication service contracts, and sale of other wires and cables products.

Revenue from external customers is attributed to individual countries based on the customer’s country of domicile and is summarized as follows:

	For the year ended December 31,
	2018		2017		2016
	US$’000		US$’000		US$’000
Revenues from external customers
Thailand		154,207		158,565		110,569
Singapore		63,781		76,453		105,431
Australia		37,594		34,901		27,918
China		111,917		108,561		96,956
India		45,008		31,291		31,212
Southeast Asia		13,339		15,394		12,465
Northeast Asia		94		50		14
		425,940		425,215		384,565

Countries in the Southeast Asia region include Cambodia, Vietnam, Indonesia, India, Laos, Malaysia and Myanmar; countries in the Northeast Asia region include Japan and South Korea.

Revenue from one customer amounted to $37,197 (2017: $36,518; 2016: $53,465) represent 8.73% (2017: 8.59%; 2016: 13.9%), arising from sales in the ROW segment.

The total non-current assets other than financial instruments and deferred tax assets broken down by the country of domicile are summarized as follow:

	As of December 31,
	2018		2017
	US$’000		US$’000
Non-current assets by country:
Thailand		28,407		28,140
Singapore		5,868		6,831
China		6,592		6,333
Australia		2,684		2,984
Other		54		6
Total non-current assets		43,605		44,294