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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

17. RELATED PARTY TRANSACTIONS

 

Related parties are entities with common direct or indirect shareholders and/or directors. Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions.

 

Some of the Company’s transactions and arrangements are with related parties and the effect of these on the basis determined between parties is reflected in these consolidated financial statements. The balances are unsecured, interest-free and repayable on demand unless otherwise stated.

 

The following transactions took place between the Company and its related parties during the year: 

            
   December 31, 
   2022   2023   2024 
   US$’000   US$’000   US$’000 
Interest income from a related party   56    88    384 
Loans assumed by a director   671    –    – 
Directors’ remuneration   113    150    155 
Directors’ fees of the subsidiary   135    125    117 
Directors’ fees of the Company   –    9    54 
Related party remuneration   111    138    139 
Rental expense paid to a related party   39    40    40 
Interest paid to a related party   –    75    110 
Loan from related parties   –    1,096    453 
Sales with a related party   –    1,785    5,256