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Material Partly-Owned Subsidiaries (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Statements [Line Items] |
Subsidiaries of the Company | The subsidiaries of our Company are set out below:
|  | Percentage of equity interest |
Place of incorporation and operations |  | 2021 |  |  | 2020 |
The British Virgin Islands |  |  |  |  |  |  |  |
APWC General Holdings Limited |  |  | 100 | % |  |  | 100 | %
PRC (APWC) Holding Ltd. |  |  | 100 | % |  |  | 100 | %
Samray Inc. |  |  | 100 | % |  |  | 100 | %
Siam (APWC) Holdings Ltd. |  |  | 100 | % |  |  | 100 | %
Moon View Ltd. |  |  | 100 | % |  |  | 100 | %
Trigent Investment Holdings Limited |  |  | 100 | % |  |  | 100 | %
Crown Century Holdings Ltd. |  |  | 100 | % |  |  | 100 | %
Singapore |  |  |  |  |  |  |  |
Sigma Cable Company (Private) Limited (“Sigma Cable”) |  |  | 98.30 | % |  |  | 98.30 | %
Epan Industries Pte Ltd. |  |  | 98.30 | % |  |  | 98.30 | %
Singvale Pte Ltd. |  |  | 100 | % |  |  | 100 | %
The People’s Republic of China (“PRC”) |  |  |  |  |  |  |  |
Ningbo Pacific Cable Co., Ltd. (“Ningbo Pacific”) |  |  | 97.93 | % |  |  | 97.93 | %
Shanghai Yayang Electric Co., Ltd. (“SYE”) |  |  | 68.75 | % |  |  | 68.75 | %
Pacific Electric Wire & Cable (Shenzhen) Co., Ltd. (“PEWS”) |  |  | 97.93 | % |  |  | 97.93 | %
Hong Kong |  |  |  |  |  |  |  |
Crown Century Holdings Limited (“CCH (HK)”) |  |  | 97.93 | % |  |  | 97.93 | %
Australia |  |  |  |  |  |  |  |
Australia Pacific Electric Cable Pty Limited (“APEC”) |  |  | 98.06 | % |  |  | 98.06 | %
Thailand |  |  |  |  |  |  |  |
Charoong Thai Wire and Cable Public Company Limited (“Charoong Thai”) (i) |  |  | 50.93 | % |  |  | 50.93 | %
Siam Pacific Electric Wire & Cable Company Limited (“Siam Pacific”) |  |  | 50.93 | % |  |  | 50.93 | %
Double D Cable Company Limited (“Double D”) |  |  | 50.93 | % |  |  | 50.93 | %
Hard Lek Limited. |  |  | 73.98 | % |  |  | 73.98 | %
APWC (Thailand) Co., Ltd. |  |  | 99.48 | % |  |  | 99.48 | %
PEWC (Thailand) Co., Ltd. |  |  | 99.48 | % |  |  | 99.48 | %
CTW Beta Co., Ltd. |  |  | 50.89 | % |  |  | 50.89 | %
Siam Fiber Optics Co., Ltd. (“SFO”) (ii) |  |  | 50.93 | % |  |  | 45.84 | %
Taiwan |  |  |  |  |  |  |  |
Asia Pacific New Energy Corporation Limited ("APNEC") (iii) |  |  | 100.00 | % |  |  | 100.00 | %
YASHIN Energy Corporation Limited ("YASHIN") (iii) |  |  | 100.00 | % |  |  | 100.00 | %
YADING Energy Corporation Limited ("YADING") (iii) |  |  | 100.00 | % |  |  | 100.00 | %
2. | BASIS OF PREPARATION (continued)
| 2.2 | Basis of consolidation (continued)
| (i) | Charoong Thai is listed on the Stock Exchange of Thailand and is engaged in the manufacturing of wire and cable products for the power and telecommunications industries in Thailand.
| (ii) | APWC holds 50.93% of the interests of Charoong Thai. Until June 30, 2021, Charoong Thai held 90% of the interests in SFO, giving APWC control over 45.84% of the voting power of SFO. On June 30, 2021, Charoong Thai acquired the other 10% interest in SFO (for a total consideration of THB 7.5 million), increasing its interests in SFO to 100% and APWC’s control of the voting power of SFO from 45.84% to 50.93%. Our Company recorded the effect of change in shareholding of the subsidiaries, amounting to $(167) under the caption of “Additional paid-in capital” in the consolidated statement of change in equity.
Subsidiaries with material non-controlling interests [Member] |
Statements [Line Items] |
Subsidiaries of the Company | Proportion of equity interest held by NCI:
| Country of incorporation | As of December 31, |
Name | and operation | 2021 |  | 2020 |
Charoong Thai and its subsidiaries (“CTW Consolidated”) | Thailand | 49.07% |  | 49.07% |
SYE | China | 31.25% |  | 31.25% |
Summarized Financial Information of Subsidiaries | 6(b)Summarized financial information about the subsidiaries The summarized financial information of the subsidiaries is provided below. This information is based on amounts before inter-company eliminations:
Summarized statements of comprehensive income | CTW consolidated |
| For the year ended December 31, |
| 2021 |  | 2020 |  | 2019 |
| US$’000 |  | US$’000 |  | US$’000 |
Revenue |  | 197,786 |  |  | 143,647 |  |  | 172,385 |
(Loss)/profit before tax |  | (16,038 | ) |  | 11,793 |  |  | 4,352 |
Income tax expense |  | 4,223 |  |  | (2,344 | ) |  | (1,235 | )
(Loss)/profit for the year |  | (11,815 | ) |  | 9,449 |  |  | 3,117 |
Other comprehensive (loss)/income |  | (12,699 | ) |  | (1,406 | ) |  | 9,194 |
Total comprehensive (loss)/income |  | (24,514 | ) |  | 8,043 |  |  | 12,311 |
(Loss)/profit attributable to non-controlling interests |  | (5,815 | ) |  | 4,631 |  |  | 1,378 |
Dividends paid to non-controlling interests |  | 2,815 |  |  | 1,228 |  |  | 2,763 |
Summarized statements of comprehensive income | SYE |
| For the year ended December 31, |
| 2021 |  | 2020 |  | 2019 |
| US$’000 |  | US$’000 |  | US$’000 |
Revenue |  | 530 |  |  | 6,291 |  |  | 20,743 |
Loss before tax |  | (497 | ) |  | (1,161 | ) |  | (2,272 | )
Income tax expense |  | — |  |  | — |  |  | — |
Loss for the year |  | (497 | ) |  | (1,161 | ) |  | (2,272 | )
Other comprehensive income/(loss) |  | 17 |  |  | 84 |  |  | (46 | )
Total comprehensive loss |  | (480 | ) |  | (1,077 | ) |  | (2,318 | )
Loss attributable to non-controlling interests |  | (155 | ) |  | (363 | ) |  | (710 | )
Dividends paid to non-controlling interests |  | — |  |  | — |  |  | — |
6. | MATERIAL PARTLY-OWNED SUBSIDIARIES (continued)
6(b)Summarized financial information about the subsidiaries (continued)
Summarized balance sheets | CTW consolidated |  | SYE |
| As of December 31, |  | As of December 31, |
| 2021 |  | 2020 |  | 2021 |  | 2020 |
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |
Current assets |  | 141,282 |  |  | 128,534 |  |  | 565 |  |  | 3,336 |
Non-current assets |  | 59,547 |  |  | 56,596 |  |  | 1,266 |  |  | 1,406 |
Current liabilities |  | (68,142 | ) |  | (18,815 | ) |  | (1,204 | ) |  | (3,635 | )
Non-current liabilities |  | (8,477 | ) |  | (11,097 | ) |  | — |  |  | — |
Total equity |  | 124,210 |  |  | 155,218 |  |  | 627 |  |  | 1,107 |
Equity attributable to: |  |  |  |  |  |  |  |  |  |  |  |
Equity holders of the parent |  | 63,260 |  |  | 78,961 |  |  | 431 |  |  | 761 |
Non-controlling interests |  | 60,950 |  |  | 76,257 |  |  | 196 |  |  | 346 |
Summarized cash flow information | CTW consolidated |
| For the year ended December 31, |
| 2021 |  | 2020 |  | 2019 |
| US$’000 |  | US$’000 |  | US$’000 |
Operating |  | (37,392 | ) |  | 19,713 |  |  | 10,776 |
Investing |  | (2,496 | ) |  | (10,952 | ) |  | 2,319 |
Financing |  | 42,981 |  |  | (5,118 | ) |  | (20,260 | )
Effect of changes in exchange rate on cash |  | (3,333 | ) |  | (87 | ) |  | 2,376 |
Net (decrease) increase in cash and cash equivalents |  | (240 | ) |  | 3,556 |  |  | (4,789 | )
Summarized cash flow information | SYE |
| For the year ended December 31, |
| 2021 |  | 2020 |  | 2019 |
| US$’000 |  | US$’000 |  | US$’000 |
Operating |  | 318 |  |  | (1,844 | ) |  | 5,135 |
Investing |  | 65 |  |  | 278 |  |  | (165 | )
Financing |  | (1,226 | ) |  | (769 | ) |  | (1,847 | )
Effect of changes in exchange rate on cash |  | 16 |  |  | 98 |  |  | (28 | )
Net (decrease) increase in cash and cash equivalents |  | (827 | ) |  | (2,237 | ) |  | 3,095 |

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