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OTHER LIABILITIES
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12 Months Ended | ||
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Dec. 31, 2013
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| OTHER LIABILITIES [Abstract] | |||
| OTHER LIABILITIES |
The local authorities in Zhuhai, PRC, operate certain government subsidy programs which are intended to encourage companies to invest in the high technology industry in Zhuhai.
For the year ended December 31, 2012, Actions Semiconductor Zhuhai were further granted $299 advance subsidies, the total liabilities amounted to $2,069, of which $2,056 was repayable within one year, subject to the acknowledgement by the local authorities that all conditions attached to the grant are satisfied, and $13 are repayable after 2012 and therefore are recorded in non-current liabilities.
For the year ended December 31, 2013, Actions Semiconductor Zhuhai were further granted $714 advance subsidies, the total liabilities amounted to $1,774, of which $1,362 was repayable within one year, subject to the acknowledgement by the local authorities that all conditions attached to the grant are satisfied, and $412 are repayable after 2013 and therefore are recorded in non-current liabilities.
The estimated fair value of the advances granted to Actions Semiconductor Zhuhai based on the Group's borrowing interest rate from independent financial institution was approximately $1,970 and $1,666 at December 31, 2012 and 2013, respectively.
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