LEASE ARRANGEMENTS

12 Months Ended

Dec. 31, 2024

NOTE 9. LEASE ARRANGEMENTS

During 2024 and 2023, we leased office premises and automobile for operational use with lease terms of 2 to 5 years that expire at various dates through 2027. We do not have purchase options to acquire the leasehold office premises and automobile at the end of the lease terms.

Right-of-use assets

Right-of-use assets consist of the following:


	December 31
(in US$ thousands)	2024		2023
Carrying amount:
Office premise	$	450	$	931
Automobile		34		13
	$	484	$	944

Lease liabilities


	December 31
(in US$ thousands)	2024		2023
Carrying amount:
Current portion (classified under other current liabilities)	$	416	$	475
Noncurrent portion		84		495
	$	500	$	970

Discount rates for the existing lease liabilities ranged from 1.44% to 3.6% as of December 31, 2024, and from 1.44% to 3.6% as of December 31, 2023.

Supplemental information

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


	For the Year ended December 31
(in US$ thousands)	2024		2023
Cash paid for operating leases	$	481	$	491
Operating lease expenses	$	499	$	495

	As of December 31
(in US$ thousands)	2024		2023
Lease liabilities arising from obtaining right-of-use assets	$	49	$	116
Weighted-average remaining lease term	1.18 years		2.04 years
Weighted-average discount rate	1.60%		1.60%

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, 2024:


(in US$ thousands)	Operating Leases
Year
2025	$	421
2026		81
2027		3
Total minimum lease payments		505
Less: amount of lease payments representing interest		(5	)
Present value of future minimum lease payments		500
Less: current obligation under leases		(416	)
Non-current lease obligations	$	84