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ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
ACCOUNTS RECEIVABLE, NET

3. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable, net, consists of the following:

        
   December 31, 
   2023   2024 
   US$’000   US$’000 
Accounts receivable   15,769    7,842 
Bad debts written off   (2)   – 
Allowance for expected credit losses   (500)   (150)
Accounts receivable, net   15,267    7,692 

 

The movements in the allowance for expected credit losses for the years ended December 31, 2023 and 2024 were as follows:

        
   December 31, 
   2023   2024 
   US$’000   US$’000 
Balance at beginning of the year   –    500 
Addition   500    132 
Reversal   –    (482)
Balance at end of the year   500    150 

 

As of the end of each of the financial year, the ageing analysis of accounts receivable, net of allowance for doubtful accounts, based on the invoice date is as follows:

        
   December 31, 
   2023   2024 
   US$’000   US$’000 
Within 30 days   5,933    4,694 
Between 31 and 60 days   3,543    1,672 
Between 61 and 90 days   2,049    690 
More than 90 days   3,742    636 
    15,267    7,692