EX-12.1 5 a2228824zex-12_1.htm EX-12.1

Exhibit 12.1

 

Ratio of Earning to Fixed charge

 

 

 

For the year ended December 31

 

 

 

2011

 

2012

 

2013

 

2014

 

2015

 

 

 

Thousand USD

 

Thousand USD

 

Thousand USD

 

Thousand USD

 

Thousand USD

 

Interest expensed and capitalized

 

138

 

1,132

 

2,352

 

3,817

 

3,897

 

Amortized premium, discounts and capitalized expenses related to indebtedness

 

—

 

—

 

—

 

—

 

—

 

An estimate of the interest within rental expense

 

—

 

—

 

—

 

—

 

—

 

Preference security dividend requirements of consolidated subsidiaries

 

—

 

—

 

—

 

—

 

—

 

Fixed charge

 

138

 

1,132

 

2,352

 

3,817

 

3,897

 

Add

 

 

 

 

 

 

 

 

 

 

 

Pre-tax (loss) income from continuing operations before adjustment for minority interest in consolidated subsidiaries or loss from equity investees

 

9,334

 

34,627

 

(48,167

)

(69,016

)

1,659

 

Amortization of capitalized interest

 

—

 

—

 

—

 

—

 

—

 

Distributed income of equity investees

 

—

 

—

 

—

 

—

 

—

 

Share of pre-tax income of equity investees for which charges arising from guarantees are included in fixed charges

 

—

 

—

 

—

 

—

 

—

 

Subtract

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

—

 

—

 

—

 

—

 

—

 

Preference security dividend requirements of consolidated subsidiaries

 

—

 

—

 

—

 

—

 

—

 

Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges

 

—

 

—

 

—

 

—

 

—

 

Earnings

 

9,472

 

35,759

 

(45,815

)

(65,199

)

5,556

 

Ratio of Earnings to Fixed charge

 

68.6

 

31.6

 

 

 

 

 

1.4

 

Deficiency

 

 

 

 

 

(48,167

)

(69,016

)