XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.23.1

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2022
Disclosure of operating segments [abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION 5(a) Basis of segments Each segment engages in business activities which generate revenues and incur expenses. Based upon the information provided to our Company’s chief operating decision maker (“CODM”) to make decisions on resource allocation and operating performance evaluation, our Company has determined that it has three reportable segments. Our Company organizes its business segments along reporting lines and has three operating segments, consisting of the North Asia region, the Thailand region and the Rest of the World (“ROW”) region. Our Company considers the economic characteristics similarity in determining the reportable segments. As the three operating segments exceed the quantitative thresholds, they are also reportable segments. The accounting policies for segment information, including transactions entered between segments are generally the same as those described in the summary of significant accounting policies. 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 |
Adjustments and eliminations Corporate expenses, gain on disposal of investment, and share of gain (loss) of associates are not allocated to individual segments as the underlying instruments are managed on a group basis. 5(c) Reconciliation of segment operating profit (loss)
| For the year ended December 31,
| 2022 |  | 2021 |  | 2020
| US$’000 |  | US$’000 |  | US$’000
Segment operating profit/(loss) | 10,645 |  |  | (2,324) |  |  | 9,845 |
Corporate expenses and others | (3,093) |  |  | (3,009) |  |  | (2,973) |
| 7,552 |  |  | (5,333) |  |  | 6,872 |
Other operating income | 1,027 |  |  | 587 |  |  | 814 |
Other operating expenses | (512) |  |  | (227) |  |  | (129) |
Operating profit/(loss) | 8,067 |  |  | (4,973) |  |  | 7,557 |
Finance costs | (1,650) |  |  | (1,251) |  |  | (744) |
Finance income | 120 |  |  | 123 |  |  | 320 |
Share of loss of associates | (1) |  |  | (1) |  |  | (1) |
Exchange gain/(loss) | 143 |  |  | (4,425) |  |  | (579) |
Other income | 889 |  |  | 671 |  |  | 1,173 |
Other expense | (3) |  |  | (1) |  |  | (1) |
Profit/(loss) before tax | 7,565 |  |  | (9,857) |  |  | 7,725 |
5(d) Segment assets and liabilities
| North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Total assets | 54,534 |  |  | 168,423 |  |  | 133,516 |  |  | 356,473 |  |  | 14,546 |  |  | 371,019 |
Total liabilities | 13,649 |  |  | 62,584 |  |  | 75,863 |  |  | 152,096 |  |  | 7,495 |  |  | 159,591 |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Total assets | 56,629 |  |  | 186,405 |  |  | 136,145 |  |  | 379,179 |  |  | 10,249 |  |  | 389,428 |
Total liabilities | 15,166 |  |  | 76,610 |  |  | 80,731 |  |  | 172,507 |  |  | 7,604 |  |  | 180,111 |
5(d) Segment assets and liabilities (continued) Reconciliation of assets:
| As of December 31,
| 2022 |  | 2021
| US$’000 |  | US$’000
Segment operating assets | 356,473 |  |  | 379,179 |
Corporate and other assets | 6,598 |  |  | 2,173 |
Investment in associates | 805 |  |  | 835 |
Deferred tax assets | 7,143 |  |  | 7,241 |
Total assets | 371,019 |  |  | 389,428 |
Reconciliation of liabilities:
| As of December 31,
| 2022 |  | 2021
| US$’000 |  | US$’000
Segment operating liabilities | 152,096 |  |  | 172,507 |
Corporate liabilities | 3,298 |  |  | 3,499 |
Deferred tax liabilities | 4,197 |  |  | 4,105 |
Total liabilities | 159,591 |  |  | 180,111 |
5(e) Disaggregated revenues and geographical information (i)Revenue from external customers is summarized as the following major categories:
Year ended December 31, 2022 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000 |  | US$’000
Revenue from external customers |  |  |  |  |  |  |  |  |  |  |
Power | 92 |  |  | 46,340 |  |  | 135,739 |  |  | 182,171 |  |  | — |  |  | 182,171 |
Enamel | 76,002 |  |  | 102,122 |  |  | — |  |  | 178,124 |  |  | — |  |  | 178,124 |
SDI | 1,209 |  |  | — |  |  | 44,722 |  |  | 45,931 |  |  | — |  |  | 45,931 |
Others* | 26 |  |  | 23,379 |  |  | 4,262 |  |  | 27,667 |  |  | — |  |  | 27,667 |
| 77,329 |  |  | 171,841 |  |  | 184,723 |  |  | 433,893 |  |  | — |  |  | 433,893 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |
At a point in time | 77,287 |  |  | 171,613 |  |  | 158,510 |  |  | 407,410 |  |  | — |  |  | 407,410 |
Over time | 42 |  |  | 228 |  |  | 26,213 |  |  | 26,483 |  |  | — |  |  | 26,483 |
| 77,329 |  |  | 171,841 |  |  | 184,723 |  |  | 433,893 |  |  | — |  |  | 433,893 |
*include revenues from fabrication service contracts, and sale of other wires and cables products. 5(e) Disaggregated revenues and geographical information (continued) (i)Revenue from external customers is summarized as the following major categories (continued):
Year ended December 31, 2021 | North Asia |  | Thailand |  | ROW |  | Total segments |  | Corporate expense adjustments and eliminations |  | Consolidated
| US$’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$15.6 million in 2020), fabrication service contracts, and sale of other wires and cables products. 5(e) Disaggregated revenues and geographical information (continued) (ii)Revenue from external customers is attributed to individual countries based on the customer’s country of domicile and is summarized as follows:
| For the year ended Current period end
| 2022 |  | 2021 |  | 2020
| US$’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 |
Countries in the Southeast Asia region include Cambodia, Vietnam, Indonesia, Brunei, Laos, Malaysia and Myanmar; countries in the Northeast Asia region include Japan and South Korea. (iii)Major customer information Revenue from one customer in the ROW region amounted to $66,858 in 2022 represented 15.41% of 2022 consolidated revenue. Revenue from one customer in the ROW region amounted to $56,579 in 2021 represented 11.87% of 2021 consolidated revenue. Revenue from one customer in the Thailand region amounted to $33,494 in 2020 represented 10.68% of 2020 consolidated revenue. 5(f) Non-current assets information The total non-current assets other than financial instruments and deferred tax assets broken down by the country of domicile are summarized as follow:
| As of December 31,
| 2022 |  | 2021
| US$’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 |

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2022-03-24 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&doctype=Standard&dita_xref=IFRS08_g20-24__IFRS08_g20-24_TI -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration