| Trade and Other Receivables, Prepayments and Contract Assets |
The components of Trade receivables, net, Other receivables and Prepayments and contract assets reflected in the Unaudited Condensed Consolidated Balance Sheets are disaggregated, as applicable, in the table below:
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As of March 31, 2023 |
|
As of December 31, 2022 |
| (in thousands) |
$ |
|
$ |
| Trade receivables, gross |
15,519 |
|
|
17,635 |
|
| Allowance for doubtful accounts |
(115) |
|
|
(2,111) |
|
Trade receivables, net (Note 5) |
15,404
|
|
|
15,524
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|
|
|
|
|
Other receivables |
4,523 |
|
|
7,205 |
|
| Security deposit |
8,510 |
|
|
8,481 |
|
VAT receivable |
1,864 |
|
|
1,816 |
|
| Other receivables |
14,897
|
|
|
17,502
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|
|
|
|
Prepayments |
9,871 |
|
|
12,237 |
|
Contract assets |
8,533 |
|
|
6,112 |
|
| Prepayments and contract assets |
18,404
|
|
|
18,349
|
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| Activity of Changes in Contracts Assets |
The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
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As of March 31, 2023 |
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As of December 31, 2022 |
| (in thousands) |
$ |
|
$ |
Trade receivables, net (Note 9) |
15,404 |
|
|
15,524 |
|
Contract assets (Note 9) |
8,533 |
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|
6,112 |
|
Contract liabilities (Note 5 iii) |
61,884 |
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|
64,870 |
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The table below shows significant changes in contract liabilities:
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For the Three Months Ended March 31, 2023 |
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For the Year Ended December 31, 2022 |
| (in thousands) |
$ |
|
$ |
Balance on January 1 |
64,870 |
|
|
94,182 |
|
Amounts billed but not recognized |
271 |
|
|
2,696 |
|
Revenue recognized |
(4,674) |
|
|
(21,503) |
|
Effect of movement in foreign exchange |
1,460 |
|
|
(9,774) |
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| Transferred to liability held for sale |
(43) |
|
|
(731) |
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Contract liabilities |
61,884
|
|
|
64,870
|
|
The table below shows significant changes in contract assets for the periods presented:
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As of March 31, 2023 |
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As of December 31, 2022 |
| (in thousands) |
$ |
|
$ |
Balance at January 1 |
6,112 |
|
|
4,484 |
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Revenues recognized but not billed |
7,376 |
|
|
4,478 |
|
Amounts reclassified to trade receivable |
(5,068) |
|
|
(1,914) |
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| Amounts transferred to assets held for sale |
(21) |
|
|
(936) |
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| Effect of movement in foreign exchange |
134 |
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|
— |
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Contract assets |
8,533
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|
6,112
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