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SHARE-BASED EMPLOYEE REMUNERATION (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of SHARE-BASED EMPLOYEE REMUNERATION [Abstract]  
Disclosure of number and weighted average exercise prices of share options [text block]
Share options and weighted average exercise prices are as follows for the reporting periods presented:
 
 
 
Number of shares
 
 
Weighted average

exercise price

US$
 
Outstanding at January 1, 2013
 
 
1,130,000
 
 
 
7.65
 
Granted
 
 
-
 
 
 
-
 
Forfeited
 
 
(20,000
)
 
 
7.65
 
Exercised
 
 
-
 
 
 
-
 
Outstanding at December 31, 2013
 
 
1,110,000
 
 
 
7.65
 
Exercisable at December 31, 2013
 
 
832,500
 
 
 
7.65
 
Exercisable at December 31, 2014
 
 
1,110,000
 
 
 
7.65
 
Exercisable at December 31, 2015
 
 
1,110,000
 
 
 
7.65
 
Expired
 
 
(1,110,000
)
 
 
7.65
 
Exercisable at December 31, 2016
 
 
-
 
 
 
-
 
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block] The following principal assumptions were used in the valuation:
 
Grant date
 
 
January 27, 2011
 
Vesting period ends
 
 
January 27, 2014
 
Share price at date of grant
 
US$
7.65
 
Exercise price at date of grant
 
US$
7.65
 
Volatility
 
 
65
%
Option life
 
 
5
years
 
Dividend yield
 
 
0
%
Risk-free interest rate
 
 
1.98
%
Fair value at grant date
 
US$
3.52