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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of operating segments [abstract] |
Summary of Segment Information | Inter-segment revenues are eliminated upon consolidation and reflected in the “adjustments and eliminations” column. All other adjustments and eliminations are part of detailed reconciliations presented further below. 5(b) Information about reportable segments
Year ended December 31, 2022 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenues |  |  |  |  |  |  |  |  |  |  |
External customers | 77,329 |  |  | 171,841 |  |  | 184,723 |  |  | 433,893 |  |  | — |  |  | 433,893 |
Inter-segment | — |  |  | (5) |  |  | — |  |  | (5) |  |  | 5 |  |  | — |
Segment operating profit/(loss) | 241 |  |  | 2,636 |  |  | 7,768 |  |  | 10,645 |  |  | (3,093) |  |  | 7,552 |
Depreciation and amortization(including depreciation from right of use assets) | (1,247) |  |  | (3,058) |  |  | (1,448) |  |  | (5,753) |  |  | (82) |  |  | (5,835) |
Interest income | 68 |  |  | 49 |  |  | 2 |  |  | 119 |  |  | 1 |  |  | 120 |
Interest expense | (91) |  |  | (787) |  |  | (608) |  |  | (1,486) |  |  | (2) |  |  | (1,488) |
Income tax expense | (354) |  |  | (420) |  |  | (1,979) |  |  | (2,753) |  |  | (55) |  |  | (2,808) |
Other disclosures |  |  |  |  |  |  |  |  |  |  |
Capital expenditure | 1,486 |  |  | 1,780 |  |  | 541 |  |  | 3,807 |  |  | 1 |  |  | 3,808 |
5(b) Information about reportable segments (continued)
Year ended December 31, 2021 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenues |  |  |  |  |  |  |  |  |  |  |
External customers | 107,032 |  |  | 197,779 |  |  | 171,848 |  |  | 476,659 |  |  | — |  |  | 476,659 |
Inter-segment | — |  |  | 7 |  |  | — |  |  | 7 |  |  | (7) |  |  | — |
Segment operating profit/(loss) | 4,523 |  |  | (13,537) |  |  | 6,690 |  |  | (2,324) |  |  | (3,009) |  |  | (5,333) |
Depreciation and amortization(including depreciation from right of use assets) | (1,074) |  |  | (2,752) |  |  | (1,566) |  |  | (5,392) |  |  | (102) |  |  | (5,494) |
Impairment of property, plant and equipment | — |  |  | (7) |  |  | — |  |  | (7) |  |  | — |  |  | (7) |
Interest income | 43 |  |  | 76 |  |  | 3 |  |  | 122 |  |  | 1 |  |  | 123 |
Interest expense | (285) |  |  | (380) |  |  | (340) |  |  | (1,005) |  |  | (92) |  |  | (1,097) |
Income tax (expense)/benefit | (2,104) |  |  | 4,223 |  |  | (1,539) |  |  | 580 |  |  | 765 |  |  | 1,345 |
Other disclosures |  |  |  |  |  |  |  |  |  |  |
Capital expenditure | 11 |  |  | 5,585 |  |  | 2,018 |  |  | 7,614 |  |  | 937 |  |  | 8,551 |
5(b) Information about reportable segments (continued)
Year ended December 31, 2020 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenues |  |  |  |  |  |  |  |  |  |  |
External customers | 73,199 |  |  | 143,647 |  |  | 96,718 |  |  | 313,564 |  |  | — |  |  | 313,564 |
Inter-segment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Segment operating profit/(loss) | 3,087 |  |  | 11,250 |  |  | (4,492) |  |  | 9,845 |  |  | (2,973) |  |  | 6,872 |
Depreciation and amortization(including depreciation from right of use assets) | (796) |  |  | (2,773) |  |  | (1,715) |  |  | (5,284) |  |  | (118) |  |  | (5,402) |
Impairment of property, plant and equipment | — |  |  | (4) |  |  | (198) |  |  | (202) |  |  | — |  |  | (202) |
Interest income | 94 |  |  | 192 |  |  | 33 |  |  | 319 |  |  | 1 |  |  | 320 |
Interest expense | (178) |  |  | (105) |  |  | (257) |  |  | (540) |  |  | (75) |  |  | (615) |
Income tax (expense)/benefit | (791) |  |  | (2,344) |  |  | (714) |  |  | (3,849) |  |  | (167) |  |  | (4,016) |
Other disclosures |  |  |  |  |  |  |  |  |  |  |
Capital expenditure | 3,763 |  |  | 10,674 |  |  | 167 |  |  | 14,604 |  |  | — |  |  | 14,604 |
Reconciliation of segment operating profit (loss) | 5(c) Reconciliation of segment operating profit (loss)
| For the year ended December 31,
| 2022 |  | 2021 |  | 2020
| US$’000 |  | US$’000 |  | US$’000
Segment operating profit/(loss) | 10,645 |  |  | (2,324) |  |  | 9,845 |
Corporate expenses and others | (3,093) |  |  | (3,009) |  |  | (2,973) |
| 7,552 |  |  | (5,333) |  |  | 6,872 |
Other operating income | 1,027 |  |  | 587 |  |  | 814 |
Other operating expenses | (512) |  |  | (227) |  |  | (129) |
Operating profit/(loss) | 8,067 |  |  | (4,973) |  |  | 7,557 |
Finance costs | (1,650) |  |  | (1,251) |  |  | (744) |
Finance income | 120 |  |  | 123 |  |  | 320 |
Share of loss of associates | (1) |  |  | (1) |  |  | (1) |
Exchange gain/(loss) | 143 |  |  | (4,425) |  |  | (579) |
Other income | 889 |  |  | 671 |  |  | 1,173 |
Other expense | (3) |  |  | (1) |  |  | (1) |
Profit/(loss) before tax | 7,565 |  |  | (9,857) |  |  | 7,725 |
Reconciliation of assets and liabilities | 5(d) Segment assets and liabilities
| North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Total assets | 54,534 |  |  | 168,423 |  |  | 133,516 |  |  | 356,473 |  |  | 14,546 |  |  | 371,019 |
Total liabilities | 13,649 |  |  | 62,584 |  |  | 75,863 |  |  | 152,096 |  |  | 7,495 |  |  | 159,591 |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Total assets | 56,629 |  |  | 186,405 |  |  | 136,145 |  |  | 379,179 |  |  | 10,249 |  |  | 389,428 |
Total liabilities | 15,166 |  |  | 76,610 |  |  | 80,731 |  |  | 172,507 |  |  | 7,604 |  |  | 180,111 |
Reconciliation of assets:
| As of December 31,
| 2022 |  | 2021
| US$’000 |  | US$’000
Segment operating assets | 356,473 |  |  | 379,179 |
Corporate and other assets | 6,598 |  |  | 2,173 |
Investment in associates | 805 |  |  | 835 |
Deferred tax assets | 7,143 |  |  | 7,241 |
Total assets | 371,019 |  |  | 389,428 |
| As of December 31,
| 2022 |  | 2021
| US$’000 |  | US$’000
Segment operating liabilities | 152,096 |  |  | 172,507 |
Corporate liabilities | 3,298 |  |  | 3,499 |
Deferred tax liabilities | 4,197 |  |  | 4,105 |
Total liabilities | 159,591 |  |  | 180,111 |
Revenue From External Customers Based Major Categories | (i)Revenue from external customers is summarized as the following major categories:
Year ended December 31, 2022 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenue from external customers |  |  |  |  |  |  |  |  |  |  |
Power | 92 |  |  | 46,340 |  |  | 135,739 |  |  | 182,171 |  |  | — |  |  | 182,171 |
Enamel | 76,002 |  |  | 102,122 |  |  | — |  |  | 178,124 |  |  | — |  |  | 178,124 |
SDI | 1,209 |  |  | — |  |  | 44,722 |  |  | 45,931 |  |  | — |  |  | 45,931 |
Others* | 26 |  |  | 23,379 |  |  | 4,262 |  |  | 27,667 |  |  | — |  |  | 27,667 |
| 77,329 |  |  | 171,841 |  |  | 184,723 |  |  | 433,893 |  |  | — |  |  | 433,893 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |
At a point in time | 77,287 |  |  | 171,613 |  |  | 158,510 |  |  | 407,410 |  |  | — |  |  | 407,410 |
Over time | 42 |  |  | 228 |  |  | 26,213 |  |  | 26,483 |  |  | — |  |  | 26,483 |
| 77,329 |  |  | 171,841 |  |  | 184,723 |  |  | 433,893 |  |  | — |  |  | 433,893 |
*include revenues from fabrication service contracts, and sale of other wires and cables products. (i)Revenue from external customers is summarized as the following major categories (continued):
Year ended December 31, 2021 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenue from external customers |  |  |  |  |  |  |  |  |  |  |
Power | — |  |  | 63,629 |  |  | 127,891 |  |  | 191,520 |  |  | — |  |  | 191,520 |
Enamel | 107,027 |  |  | 105,749 |  |  | — |  |  | 212,776 |  |  | — |  |  | 212,776 |
SDI | — |  |  | — |  |  | 39,476 |  |  | 39,476 |  |  | — |  |  | 39,476 |
Others* | 5 |  |  | 28,401 |  |  | 4,481 |  |  | 32,887 |  |  | — |  |  | 32,887 |
| 107,032 |  |  | 197,779 |  |  | 171,848 |  |  | 476,659 |  |  | — |  |  | 476,659 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |
At a point in time | 107,032 |  |  | 197,544 |  |  | 146,991 |  |  | 451,567 |  |  | — |  |  | 451,567 |
Over time | — |  |  | 235 |  |  | 24,857 |  |  | 25,092 |  |  | — |  |  | 25,092 |
| 107,032 |  |  | 197,779 |  |  | 171,848 |  |  | 476,659 |  |  | — |  |  | 476,659 |
*include revenues from fabrication service contracts, and sale of other wires and cables products.
Year ended December 31, 2020 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenue from external customers |  |  |  |  |  |  |  |  |  |  |
Power | — |  |  | 48,851 |  |  | 78,779 |  |  | 127,630 |  |  | — |  |  | 127,630 |
Enamel | 73,179 |  |  | 57,971 |  |  | — |  |  | 131,150 |  |  | — |  |  | 131,150 |
Fabrication | — |  |  | 33,101 |  |  | — |  |  | 33,101 |  |  | — |  |  | 33,101 |
Others* | 20 |  |  | 3,724 |  |  | 17,939 |  |  | 21,683 |  |  | — |  |  | 21,683 |
| 73,199 |  |  | 143,647 |  |  | 96,718 |  |  | 313,564 |  |  | — |  |  | 313,564 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |
At a point in time | 73,199 |  |  | 143,463 |  |  | 86,050 |  |  | 302,712 |  |  | — |  |  | 302,712 |
Over time | — |  |  | 184 |  |  | 10,668 |  |  | 10,852 |  |  | — |  |  | 10,852 |
| 73,199 |  |  | 143,647 |  |  | 96,718 |  |  | 313,564 |  |  | — |  |  | 313,564 |
*include revenues from SDI service contracts (which amounted to US$15.6 million in 2020), fabrication service contracts, and sale of other wires and cables products.
Revenue From External Customers and Non-Current Assets Broken Down by Country of Domicile | (ii)Revenue from external customers is attributed to individual countries based on the customer’s country of domicile and is summarized as follows:
| For the year ended Current period end
| 2022 |  | 2021 |  | 2020
| US$’000 |  | US$’000 |  | US$’000
Revenues from external customers |  |  |  |  |
Thailand | 153,164 |  |  | 168,773 |  |  | 128,868 |
Singapore | 118,789 |  |  | 95,116 |  |  | 44,477 |
Australia | 60,299 |  |  | 67,652 |  |  | 45,161 |
China, Hong Kong, and Taiwan | 82,187 |  |  | 118,219 |  |  | 77,411 |
India | 779 |  |  | 1,248 |  |  | 2,860 |
Southeast Asia | 18,663 |  |  | 25,643 |  |  | 14,774 |
Northeast Asia | 12 |  |  | 8 |  |  | 13 |
| 433,893 |  |  | 476,659 |  |  | 313,564 |
The total non-current assets other than financial instruments and deferred tax assets broken down by the country of domicile are summarized as follow:
| As of December 31,
| 2022 |  | 2021
| US$’000 |  | US$’000
Non-current assets by country: |  |  |
Thailand | 37,653 |  |  | 40,423 |
Singapore | 5,304 |  |  | 5,601 |
China, Hong Kong, and Taiwan | 10,313 |  |  | 10,725 |
Australia | 7,141 |  |  | 7,815 |
Other | 207 |  |  | 71 |
Total non-current assets | 60,618 |  |  | 64,635 |

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