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INVESTMENT PROPERTIES
 12 Months Ended
Dec. 31, 2024
Disclosure of detailed information about investment property [abstract]  
INVESTMENT PROPERTIES INVESTMENT PROPERTIES
17(a)    Net book value of investment properties
Land not being
used for
operation		Office buildings
for rent		Warehouse Land leasehold right OtherTotal
US$’000US$’000 US$’000 US$’000 US$’000US$’000
As of December 31, 2024
Cost406 138 — 86 11 641 
Less: Accumulated depreciation— (125)— (9)(3)(137)
Net book value406 13 — 77 8 504 
As of December 31, 2023
Cost407 510 5,055 88 11 6,071 
Less: Accumulated depreciation— (405)(545)(7)(2)(959)
Net book value407 105 4,510 81 9 5,112 
A reconciliation of the net book value of investment properties was as follows :
20242023
US$’000 US$’000
Net book value at January 15,112 5,250 
Transfer to assets classified as held for sale(69)— 
Transfer to property plant and equipment(4,353)— 
Depreciation (included in administrative expenses)(25)(168)
Exchange difference(161)30 
Net book value at December 31504 5,112 
17(b)    The amount recognized in profit or loss arising from the investment properties
202420232022
US$’000 US$’000 US$’000
Rental income derived from investment properties16 267 243 
Direct operating expenses (including repairs and maintenance) generating rental income(9)(168)(157)
Direct operating expenses (including repairs and maintenance) that did not generate rental income(1)(1)(21)
Net profit arising from investment properties carried at cost6 98 65 

Undiscounted lease payments receivable to be received during the lease terms are immaterial.
17.    INVESTMENT PROPERTIES (continued)
17(c)    Measuring investment properties at fair value
The fair value of the investment properties are stated below:
As of December 31,
20242023
US$’000US$’000
Land not being used for operation11,567 10,678 
Office buildings for rent494 5,068 
Warehouse— 5,876 
Land leasehold right91 93 
Other8 9 
The fair value of aforementioned investment properties have been determined based on the valuation and is considered a level 3 measurement. The valuation has been made on the assumption to sell the property interests in the open market in the neighborhood without the benefit of any deferred term contract, leaseback, joint venture, management agreement or any similar arrangement, which would serve to increase the value of the property interests. The valuation adopted market comparison approach to estimate the fair market value of the properties. Under the market comparison approach, the appraisal is based on recent sales and listings of comparable property. Adjustments were made for differences between the subject property and those actual sales and listings regarded as comparable. The factors which used for considering the property valuation include the significant unobservable inputs, such as location, transportation, land uses, facilities, neighboring area, land characteristics, potential, regulations and liquidity.
17(d)    Pledge
Information about the investment properties that were pledged to others as collaterals is provided in Note 28(e) (i).