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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE－7 PROPERTY AND EQUIPMENT, NET

 

Property and equipment consisted of the following:

 

            
   As of December 31, 
   2022   2021  
    $’000    $’000  
            
At cost:           
Leasehold buildings   8,089    8,212  
Motor vehicles   1,938    1,976  
Office equipment, and furniture and fittings   3,032    2,917  
Property and equipment, gross   13,059    13,105  
Less: accumulated depreciation   (5,841)   (5,385 )
            
Property and equipment, net   7,218    7,720  

 

 

Depreciation expense for the financial years ended December 31, 2022 and 2021 were remained at approximately $0.8 million and approximately $0.8 million respectively.

 

Property and equipment under finance leasing arrangement classified under motor vehicle as of December 31, 2022 and 2021 amounted to approximately $0.01 million and approximately $0.02 million, respectively. Details of such leased assets are disclosed in Note 10.

 

Right-of-use assets under operating leasing arrangements classified under leasehold building as of December 31, 2022 and 2021 amounted to approximately $1.5 million and approximately $1.8 million and, respectively. Details of such leased assets are disclosed in Note 10.