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Right of Use Assets

12 Months Ended

Dec. 31, 2020

Disclosure Of Quantitative Information About Rightofuse Assets [Abstract]

16.	RIGHT-OF-USE ASSETS

16(a)Amounts recognized in the consolidated balance sheets

	As of December 31,		As of December 31,
	2020		2019
Right of use assets	US$’000		US$’000
Land		2,843		3,029
Buildings		281		546
Motor vehicle and other asset		47		58
Office equipment		77		102
		3,248		3,735

The Company leases various assets including land, buildings, business vehicles and multifunction printers. Rental contracts are typically made for periods of 1 to 37 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose covenants, but leased assets may not be used as security for borrowing purposes.

Additions to the right-of-use assets during the 2020 financial year were $40 (2019: $473).

16(b)Amounts recognized in the consolidated income statements

	2020		2019
Depreciation charge of right of use assets	US$’000		US$’000
Land		280		211
Buildings		278		233
Motor vehicle and other asset		38		38
Office equipment		25		25
		621		507

Interest expenses (included in finance cost)		79		91
Expenses relating to short-term leases		7		159
Expenses relating to lease of low-value assets that are not short-term leases		10		15

The total cash outflow for lease in 2020 was $682 (2019: $691).