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LEASE ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Right of Use Asset

Right-of-use assets

Right-of-use assets consist of the following:

		December 31
(in US$ thousands)		2023				2022
Carrying amount:
Office premise		$	944			$	1,306

The following tables summarize changes to our Company’s right-of use assets during 2023 and 2022:

(in US$ thousands)		Cost
		2023				2022
Balance at January 1		$	2,165			$	2,390
Additions			116				—
Exchange differences			—				(225	)
Balance at December 31		$	2,281			$	2,165
		Accumulated depreciation
		2023				2022
Balance at January 1		$	859			$	419
Depreciation			472				489
Exchange differences			6				(49	)
Balance at December 31		$	1,337			$	859
		Carrying amounts
		2023				2022
Balance at January 1		$	1,306			$	1,971
Balance at December 31		$	944			$	1,306

Summary of Lease Liabilities

Lease liabilities

		December 31
(in US$ thousands)		2023				2022
Carrying amount:
Current portion (classified under other current liabilities)		$	475			$	440
Noncurrent portion			495				893
		$	970			$	1,333

Supplemental Disclosures of Cash Flow and Noncash Information Related to Leases

Supplemental disclosures of cash flow and noncash information consist of the following:

		For the Year ended December 31
(in US$ thousands)		2023				2022
Cash paid for operating leases		$	491			$	502
Lease liabilities arising from obtaining right-of-use assets		$	116			$	—
		As of December 31
		2023				2022
Weighted-average remaining lease term		2.04 years				3.03 years
Weighted-average discount rate		1.60%				1.50%

Reconciliation of Undiscounted Cash Flows to Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2023:

(in US$ thousands)				Operating Leases
Year
2024				$	486
2025					430
2026					69
Total minimum lease payments					985
Less: amount of lease payments representing interest					(15	)
Present value of future minimum lease payments					970
Less: current obligation under leases					(475	)
Non-current lease obligations				$	495

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Schedule of lease liabilities.

+ References

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Schedule of right of use asset.

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Supplemental disclosures of cashflow and noncash information related to leases.

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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