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ACCRUALS AND OTHER CURRENT LIABILITIES
 6 Months Ended
Jun. 30, 2025
Payables and Accruals [Abstract]  
ACCRUALS AND OTHER CURRENT LIABILITIES

10. ACCRUALS AND OTHER CURRENT LIABILITIES

 

Accrued expenses and other liabilities consist of the following:

          
   December 31,   June 30, 
   2024   2025 
   US$’000   US$’000 
Accrued operating expenses   1,145    898 
Deposits   204    224 
Advances from customers   323    772 
GST payables   5    19 
Margin call *   –    164 
Unrealized losses on commodity future contracts, at fair value   14    – 
Other payables – Related parties **   545    324 
    2,236    2,401 

 

* Margin call represents unsettled commissions fee and realized losses on commodity future contracts placed with StoneX Financial Ltd. for the purpose of managing the Company’s commodity price risk (Note 14).
** The amounts due to related parties are unsecured, free of interest and repayable on demand, including:
1) Advances of US$202,317 from a related party, which were free of interest and fully repaid on August 22, 2025; and
2) Payables to the Company’s overseas office, which is a related party, represented certain expenses paid by the overseas office on behalf of the Company in the normal course of its operation.