Investments in Companies Accounted for at Equity (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Investments in Companies Accounted for at Equity Method [Abstract] |
|
| Schedule of Group's Investments in Companies Accounted for at Equity |
The following table summarizes
the Group’s investments in companies accounted for at equity:
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| TSG (Joint venture) | |
$ | 33,882 | | |
$ | 20,453 | |
| Other Investments accounted for at equity | |
| 13,691 | | |
| 17,185 | |
| Other investments held by subsidiaries | |
| 1,335 | | |
| 1,558 | |
| | |
| | | |
| | |
| | |
$ | 48,908 | | |
$ | 39,196 | |
|
| Schedule of Investment in TSG in the Consolidated Statements of Financial Position |
The following table summarizes the balances related to the Company’s investment in TSG in the consolidated
statements of financial position:
| |
|
December 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Investments in companies accounted for at equity method |
|
|
|
|
|
|
| Shares |
|
$ |
33,882 |
|
|
$ |
20,453 |
|
| Long-term investments and receivables |
|
|
|
|
|
|
|
|
| Dividend preference |
|
$ |
3,512 |
|
|
$ |
3,652 |
|
The following table summarizes the balances related to the Company’s Other Investments accounted
for at equity in the consolidated statements of financial position:
| | |
December
31, | |
| | |
2025 | | |
2024 | |
| Investments in companies accounted for at equity method | |
| | |
| |
| Shares | |
$ | 13,691 | | |
$ | 17,185 | |
|
| Schedule of Fair Value of TSG's Dividend Preference Derivative |
The following table summarizes the changes in the fair value of TSG’s dividend preference derivative:
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| Opening balance | |
$ | 3,652 | | |
$ | 3,000 | |
| Increase in fair value recognized in profit or loss | |
| - | | |
| 67 | |
| Other income | |
| - | | |
| 590 | |
| Dividend | |
| (577 | ) | |
| - | |
| Currency exchange rate in other comprehensive income (loss) | |
| 437 | | |
| (5 | ) |
| Closing balance | |
$ | 3,512 | | |
$ | 3,652 | |
|
| Schedule of Changes in the Carrying Amount of the Company’s Investment in TSG |
The following table summarizes the changes in the carrying amount of the Company’s investment in
TSG:
| January 1, 2023 | |
$ | 19,459 | |
| | |
| | |
| Company’s share of profit | |
| 686 | |
| Company’s share of other comprehensive income (loss) | |
| (575 | ) |
| Adjustments arising from translating financial statements from functional currency to presentation currency | |
| (572 | ) |
| December 31, 2023 | |
$ | 18,998 | |
| Company’s share of profit | |
| 701 | |
| Company’s share of other comprehensive income (loss) | |
| (1,964 | ) |
| Capital gain realized from issuance of shares | |
| 4,141 | |
| Capital note conversion | |
| (1,352 | ) |
| Adjustments arising from translating financial statements from functional currency to presentation currency | |
| (71 | ) |
| December 31, 2024 | |
$ | 20,453 | |
| Company’s share of profit | |
| 1,557 | |
| Company’s share of other comprehensive income (loss) | |
| 101 | |
| Capital gain realized from issuance of shares and options | |
| 9,220 | |
| Dividend | |
| (577 | ) |
| Adjustments arising from translating financial statements from functional currency to presentation currency | |
| 3,128 | |
| December 31, 2025 | |
$ | 33,882 | |
The following table summarizes the changes in the carrying amount of the Company’s Other Investments
accounted for at equity in the consolidated statements of financial position:
| Acquisition | |
| 15,323 | |
| Company’s share of profit | |
| 1,617 | |
| Adjustments arising from translating financial statements from functional currency to presentation currency | |
| 245 | |
| December 31, 2024 | |
$ | 17,185 | |
| Company’s share of profit | |
| 2,443 | |
| Dividend | |
| (5,363 | ) |
| Adjustments arising from translating financial statements from functional currency to presentation currency | |
| (574 | ) |
| December 31, 2025 | |
$ | 13,691 | |
|
| Schedule of Statements of Financial Position of TSG |
Summarized statements of financial position of TSG as of December 31, 2025 and 2024:
| | |
| |
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| Current assets | |
$ | 102,293 | | |
$ | 64,853 | |
| Non-current assets | |
| 108,131 | | |
| 79,473 | |
| Current liabilities | |
| (64,710 | ) | |
| (40,853 | ) |
| Non-current liabilities | |
| (56,941 | ) | |
| (59,236 | ) |
| Net assets | |
| 88,773 | | |
$ | 44,237 | |
| Accumulated cost of share-based payment | |
| (5,676 | ) | |
| (4,293 | ) |
| Total equity attributed to shareholders | |
$ | 83,097 | | |
$ | 39,944 | |
| | |
| 37.33 | % | |
| 42.71 | % |
| Share of equity in TSG | |
| 31,020 | | |
| 17,060 | |
| Excess of fair value over carrying amount | |
| 2,862 | | |
| 3,393 | |
| Total investment carrying amount | |
$ | 33,882 | | |
$ | 20,453 | |
Summarized statements of financial position of other Investments accounted for at equity as of December
31, 2025 and 2024:
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| Current assets | |
$ | 81,166 | | |
$ | 84,796 | |
| Non-current assets | |
| 1,256 | | |
| 597 | |
| Current liabilities | |
| (44,607 | ) | |
| (45,763 | ) |
| Non-current liabilities | |
| (282 | ) | |
| (186 | ) |
| Net assets | |
$ | 37,533 | | |
$ | 39,444 | |
| Accumulated cost of share-based payment | |
| (3,949 | ) | |
| - | |
| Total equity attributed to shareholders | |
$ | 33,584 | | |
$ | 39,444 | |
| | |
| 21.45 | % | |
| 21.45 | % |
| Share of equity | |
| 7,204 | | |
| 8,461 | |
| Excess of fair value over carrying amount | |
| 6,487 | | |
| 8,724 | |
| Total investment carrying amount | |
$ | 13,691 | | |
$ | 17,185 | |
|
| Schedule of Operating Results of TSG |
Summarized operating results of TSG for the years ended December 31, 2025, 2024 and 2023:
| | |
Year ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| | |
| | |
| | |
| |
| Revenues | |
$ | 125,851 | | |
$ | 87,102 | | |
$ | 79,449 | |
| Net income | |
| 5,632 | | |
| 3,028 | | |
| 2,587 | |
| Other comprehensive income | |
| 270 | | |
| 999 | | |
| 1,236 | |
| | |
| | | |
| | | |
| | |
| Total comprehensive income | |
$ | 5,902 | | |
$ | 4,027 | | |
$ | 3,823 | |
| | |
| | | |
| | | |
| | |
| Company’s share in TSG | |
| 37.33 | % | |
| 42.71 | % | |
| 50 | % |
| | |
| 2,203 | | |
| 1,720 | | |
| 1,912 | |
| Amortization of excess cost of intangible assets net of tax | |
| (545 | ) | |
| (523 | ) | |
| (608 | ) |
| Company’s share of total comprehensive income | |
$ | 1,658 | | |
$ | 1,197 | | |
$ | 1,304 | |
| | |
| | | |
| | | |
| | |
| Company’s share of other comprehensive income | |
| 101 | | |
| 496 | | |
| 618 | |
| Company’s share of profit | |
| 1,557 | | |
| 701 | | |
| 686 | |
| | |
$ | 1,658 | | |
$ | 1,197 | | |
$ | 1,304 | |
Summarized operating results of other Investments accounted for at equity for the years ended December
31, 2025 and 2024:
| | |
Year ended
December 31, | | |
For the
period starting
September, 4
2024
and ended
December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Revenues | |
$ | 248,100 | | |
$ | 87,623 | |
| Net income | |
| 21,194 | | |
| 10,791 | |
| | |
| | | |
| | |
| Net income | |
$ | 21,194 | | |
$ | 10,791 | |
| | |
| | | |
| | |
| Company’s share | |
| 21.45 | % | |
| 21.45 | % |
| | |
| 4,546 | | |
| 2,315 | |
| Amortization of excess cost of intangible assets net of tax | |
| (2,103 | ) | |
| (697 | ) |
| Company’s share of profit | |
$ | 2,443 | | |
$ | 1,617 | |
| | |
| | | |
| | |
| Company’s share of profit | |
| 2,443 | | |
| 1,617 | |
| | |
$ | 2,443 | | |
$ | 1,617 | |
|