| Schedule of Prepayments and Other Current Assets |
The prepayments and other current assets consisted of the following:
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(US$ thousand) |
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$ |
1,772 |
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$ |
2,820 |
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1,446 |
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2,674 |
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1,353 |
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1,806 |
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Employee loans and advances |
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2,186 |
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888 |
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Proceeds receivable for employee share option exercises |
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612 |
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329 |
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80 |
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130 |
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10 |
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154 |
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$ |
7,459 |
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$ |
8,801 |
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(1) |
Prepayments are primarily related to prepayments for services, advertisements and other deposits. |
(2) |
VAT recoverable represented the balances that the Group can utilize to deduct its VAT liabilities within the next 12 months. |
(3) |
Employee advances and loans are primarily advances to employees that are business related, taxes paid on behalf of employees related to their options, or personal loans granted to select qualified employees with interest or a guarantee. The loan balances are expected to be repaid by the employee within one year. | |