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Employee Benefit (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Employee Benefits Liabilities

	As of December 31,
	2018						2017
	Current		Non-current		Total		Current		Non-current		Total
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Employee benefit liabilities
Pension-Defined benefit plans		855		8,161		9,016		877		7,416		8,293
Long service leave		427		112		539		456		130		586
Total		1,282		8,273		9,555		1,333		7,546		8,879

Summary of Components of Net Benefit Expense Recognized in Income Statement and Funded Status and Amounts Recognized in Consolidated Balance Sheets

The following tables summaries the components of net benefit expense recognized in the income statement and the funded status and amounts recognized in the consolidated balance sheet for the plan:

	For the year ended December 31,
Net benefit cost	2018		2017		2016
	US$’000		US$’000		US$’000
Current service cost		419		360		410
Interest cost on benefit obligation		202		210		180
Net benefit cost		621		570		590

	For the year ended December 31,
Other comprehensive income	2018		2017		2016
	US$’000		US$’000		US$’000
Actuarial (gain) / loss – experience		396		251		217
Actuarial (gain) / loss – demographic assumption		1		184		—
Actuarial (gain) / loss – financial assumption		13		337		(219	)
Actuarial loss		410		772		(2	)

	For the year ended December 31,
Change in the defined obligation	2018			2017			2016
	US$’000			US$’000			US$’000
Defined benefit obligation at January 1		8,293			6,652			6,305
Current service cost		419			360			410
Interest cost on benefit obligation		202			210			180
Benefits paid directly by the Company		(352	)		(274	)		(269	)
Actuarial loss in other comprehensive income		410			772			(2	)
Exchange differences		44			573			28
Defined benefit obligation at December 31		9,016			8,293			6,652

Significant Assumptions Used in Determining Actuarial Present Value of Defined Benefit Obligations

The significant assumptions used in determining the actuarial present value of the defined benefit obligations for the year ended December 31, 2018 and 2017 are as follows:

	2018	2017
	%	%
Discount rate	2.6 ~ 2.7	2.7
Rate of salary increase	5.0 ~ 6.0	5.0 ~ 6.0
Pre-retirement mortality	Thailand TMO17 Tables*	Thailand TMO17 Tables*
* TMO represented as Thailand Mortality Ordinary Tables

Maturity Profile of Defined Benefit Obligation

The following pension benefit payments are expected payments to be made in the future years out of the defined benefit plan obligation:

		As of December 31,
	2018			2017
	US$’000			US$’000
Within the next 12 months (next annual reporting period)			855		877
Between 2 and 5 years			2,374		1,616
Between 6 and 10 years			4,187		3,183
Beyond 10 years			17,084		15,392
Total expected payments			24,500		21,068

Weighted average duration of defined benefit obligation	10 - 11 years			11 years

Sensitivity Analysis of One-percentage Point Change in Assumed Rates

A one-percentage point change in the assumed rates would have yielded the following effects:

	2018			2017
	US$’000			US$’000
Discount rate – 1% increase		(777	)		(721	)
Discount rate – 1% decrease		908			844
Rate of salary increase – 1% increase		869			808
Rate of salary increase – 1% decrease		(762	)		(707	)