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RIGHT-OF-USE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

Right-of-use Assets

SCHEDULE OF BALANCE SHEET CLASSIFICATION

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

 SCHEDULE OF BALANCE SHEET CLASSIFICATION

		2022				2021
		As of December 31,
		2022				2021
		$’000				$’000
Assets
Finance lease, right-of-use asset, net (classified under property and equipment, net)			5				21
Operating lease, right-of-use asset, net			1,489				1,769
Total right-of-use asset			1,494				1,790
Liabilities
Current:
Finance lease liabilities			3,024				1,472
Operating lease liabilities			460				475
Lease liabilities current			3,484				1,947
Non-current:
Finance lease liabilities			991				2,306
Operating lease liabilities			1,123				1,364
Lease liabilities noncurrent			2,114				3,670
Total lease liabilities			5,598				5,617

SCHEDULE OF LEASE EXPENSE

The Company excludes short-term leases (those with lease terms of less than one year at inception) from the measurement of lease liabilities or right-of-use assets. The following tables summarize the lease expense for the financial years.

 SCHEDULE OF LEASE EXPENSE

		2022				2021				2020
		Financial Years ended December 31,
		2022				2021				2020
		$’000				$’000				$’000
Finance lease cost:
Interest on lease liabilities (per ASC 842)			66				77				88
Operating lease cost:
Operating lease expense (per ASC 842)			828				775				691
Short-term lease expense (other than ASC 842)			20				4				6
Total lease expense			848				779				697

SCHEDULE OF FUTURE OF LEASE LIABILITIES

The below table summarizes our (i) minimum lease payments over the next five years, (ii) lease arrangement implied interest, and (iii) present value of future lease payments for the next three years ending December 31:

 SCHEDULE OF FUTURE OF LEASE LIABILITIES

Financial Years ending December 31,		Operating and finance lease amount
			$’000
2023			3,658
2024			2,171
Less: interest			(231	)
Present value of lease liabilities			5,598
Representing:
Current liabilities			3,484
Non-current liabilities			2,114
Total lease payments			5,598

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Schedule of Lessee Operating and Finance Lease Liability Maturity [Table Text Block]

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Schedule of Operating and Finance Lease Balance Sheet Information [Table Text Block]

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980

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