Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property Plant And Equipment [Abstract]

4.	Property, Plant and Equipment, Net

Property, plant and equipment, net consist

of the following:


At December 31,	2020			2021			2022			2023			2024
	(’000)			(’000)			(’000)			(’000)			(’000)
At cost:
Land	$	363		$	371		$	340		$	334		$	329
Buildings		26,740			27,327			25,050			24,625			24,248
Machinery and equipment		643			798			748			735			778
Leasehold improvements		6,456			6,479			5,865			5,766			5,724
Furniture and fixtures		272			266			243			239			235
Motor vehicles		278			116			111			50			50

Total		34,752			35,357			32,357			31,749			31,364
Less: accumulated depreciation		(8,335	)		(9,961	)		(10,771	)		(11,316	)		(11,716	)
Less: Impairment		—			—			—			—			(3,457	)
Deposit for fixed assets		—			79			132			14			65
Construction in process		151			—			—			—			—

Net book value	$	26,568		$	25,475		$	21,718		$	20,447		$	16,256

Depreciation expenses were $1.2 million, $1.6 million, $1.6 million, $1.2 million, $0.9 million and $0.8 million for the years ended December 31,

019,

2020, 2021, 2022, 2023 and 2024, respectively.

Buildings of $nil (2020: $12.8 million) have been pledged to banks to obtain loan facilities as of December 31, 2021, 2022, 2023 and 2024

(See Note 9).

In October 2018, the Company signed a rental agreement to lease the former site of Wuxi factories to a third party. The term of the lease is 12 years, with 10 months of rent-free incentive from the date the property is handed over. The property was handed over to the tenant in

February 2019