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Investments in Associates (Tables)
12 Months Ended
Dec. 31, 2019
Text Block1 [Abstract]  
Associates of the Company

19(a)Associates of the Company

 

 

 

Percentage of

equity interest

 

 

 

 

As of December 31

 

Company Name

Nature of business

Country of

incorporation

2019

 

2018

 

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

19(b)Carrying amounts of investment in associates

 

As of  December 31,

 

 

2019

 

2018

 

 

US$’000

 

US$’000

 

At January 1

 

864

 

 

861

 

Share of loss of associates

 

(3

)

 

(3

)

Exchange difference

 

74

 

 

6

 

At December 31

 

935

 

 

864

 

 

Summarized Financial Information of Investments in Associates

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

 

As of December 31,

 

 

2019

 

2018

 

 

US$’000

 

US$’000

 

Summarized financial information of SPHC:

 

 

 

 

 

 

Current assets

 

3

 

 

9

 

Non-current assets

 

2,103

 

 

1,938

 

Current liabilities

 

(3

)

 

(3

)

Non-current liabilities

 

(196

)

 

(181

)

Equity

 

1,907

 

 

1,763

 

 

 

 

 

 

 

 

Reconciliation to the Company’s investments in associates:

 

 

 

 

 

 

Percentage of equity interest

49%

 

49%

 

Carrying amount of the investment

 

935

 

 

864

 

 

 

 

For the year ended December 31,

 

 

2019

 

2018

 

2017

 

 

US$’000

 

US$’000

 

US$’000

 

Summarized financial information of SPHC:

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

Loss for the year

 

(6

)

 

(5

)

 

(5

)

 

 

 

 

 

 

 

 

 

 

Reconciliation to the Company’s investments in associates:

 

 

 

 

 

 

 

 

 

Percentage of equity interest

49%

 

49%

 

49%

 

Share of the associates’ profit for the year:

 

(3

)

 

(3

)

 

(3

)