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RIGHT-OF-USE ASSETS | 12 Months Ended
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Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [abstract] |
RIGHT-OF-USE ASSETS | RIGHT-OF-USE ASSETS 16(a) Amounts recognized in the consolidated balance sheets
| As of December 31, |  | As of December 31,
| 2022 |  | 2021
Right of use assets | US$’000 |  | US$’000
Land | 2,211 |  |  | 2,533 |
Buildings | 935 |  |  | 690 |
Motor vehicle and other asset | 134 |  |  | 135 |
Office equipment | 152 |  |  | 35 |
| 3,432 |  |  | 3,393 |
Our Company leases various assets including land, buildings, business vehicles and multifunction printers. Rental contracts are typically made for periods of 2 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 2022 financial year were $863 (2021: $906). 16(b) Amounts recognized in the consolidated income statements
| 2022 |  | 2021
Depreciation charge of right of use assets | US$’000 |  | US$’000
Land | 242 |  |  | 289 |
Buildings | 337 |  |  | 286 |
Motor vehicle and other asset | 65 |  |  | 53 |
Office equipment | 38 |  |  | 33 |
| 682 |  |  | 661 |
Interest expenses (included in finance cost) | 80 |  |  | 70 |
Expenses relating to short-term leases | 11 |  |  | 3 |
Expenses relating to lease of low-value assets that are not short-term leases | 3 |  |  | 3 |
The total cash outflow for lease in 2022 was $710 (2021: $708).

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- Definition The disclosure of quantitative information about right-of-use assets. [Refer: Right-of-use assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Paragraph 53 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&anchor=para_53&doctype=Standard -URIDate 2022-03-24 + Details
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