Contract assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Contract assets and liabilities

	2022		2021
	US$’000		US$’000
Unbilled revenue		217		74

	2022		2021
	US$’000		US$’000
Deferred revenue		625		1,076

	December 31,
	2022			2021
	US$’000			US$’000
Contract assets		217			74
Contract liabilities		(625	)		(1,076	)
Net contract liabilities		(408	)		(1,002	)

Net (liability) / asset position for contracts in process

	2022			2021
	US$’000			US$’000
Costs incurred in contracts in process		682			169
Estimated earnings		68			59
Cost and estimated earnings on uncompleted contracts		750			228
Less: billings to date		(1,158	)		(1,230	)
		(408	)		(1,002	)

	2022			2021
	US$’000			US$’000
Unbilled revenue		217			74
Deferred revenue		(625	)		(1,076	)
		(408	)		(1,002	)

Disaggregated revenue from contracts

	Year ended December 31,
	2022		2021		2020
	US$’000		US$’000		US$’000
Revenue
Trading and manufacturing (revenue recognized at point in time)		9,332		9,619		9,476
Engineering (revenue recognized over time)		5,617		11,769		3,881
		14,949		21,388		13,357

ZHEJIANG TIANLAN

Contract assets and liabilities

	2022		2021
	RMB’000		RMB’000
Unbilled revenue		76,992		72,310

	2022		2021
	RMB’000		RMB’000
Deferred revenue		34,503		37,481

	2022			2021
	RMB’000			RMB’000
Contract assets		76,992			72,310
Contract liabilities		(34,503	)		(37,481	)
Net contract assets		42,489			34,829

Net (liability) / asset position for contracts in process

	2022			2021
	RMB’000			RMB’000
Costs and estimated earnings on uncompleted contracts		688,184			503,434
Less: billings to date		(645,695	)		(468,605	)
		42,489			34,829

	2022			2021
	RMB’000			RMB’000
Gross contract assets		89,440			81,198
Less: allowance for doubtful accounts		(12,448	)		(8,888	)
		76,992			72,310