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AMOUNTS DUE TO OTHER RELATED PARTIES (Tables)
12 Months Ended
Dec. 31, 2017
AMOUNTS DUE TO OTHER RELATED PARTIES  
Schedule of amounts due to related parties

 

 

 

 

 

At December 31,

 

 

 

Notes

 

2016

 

2017

 

 

 

 

 

Thousand USD

 

Thousand USD

 

Current

 

 

 

 

 

 

 

Trade

 

 

 

 

 

 

 

China New Era

 

 

 

176

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Trade

 

 

 

 

 

 

 

Sky Solar (Hong Kong) International Co., Ltd.

 

a

 

2,181

 

 

Sky Solar New Energy Investment Limited

 

17

 

2,825

 

 

Mr. Su

 

b

 

2,221

 

 

Beijing Sky Solar Investment Management Co., Ltd.

 

c

 

109

 

28

 

 

 

 

 

 

 

 

 

 

 

 

 

7,336

 

28

 

 

 

 

 

 

 

 

 

 

 

 

 

7,512

 

28

 

 

 

 

 

 

 

 

 

 

Notes:

 

(a)

The entity is 100% owned by Mr. Su as at December 31, 2016 and 2017. The Group has initially borrowed USD3 million from Sky Solar (Hong Kong) International Co., Ltd. The loan from Sky Solar (Hong Kong) International Co., Ltd. carried interest at 12% per annum.

 

(b)

On October 1, 2015, the Group entered into an agreement with Mr. Su to sell and transfer all the shares in a 100% owned subsidiary namely Sky Solar Investment Limited. In accordance with the terms of the agreement, the Group will pay an amount of USD2.4 million to Mr. Su to assume the net liabilities of Sky Solar Investment Limited in the amount of USD2.3 million and miscellaneous expense of USD0.1 million.

 

(c)

The entity is controlled by Mr. Su as at December 31, 2016 and 2017. During the year ended December 31, 2013, the Group obtained, under a license agreement entered into between the Group and the Founder for the use of a trademark “Sky Solar”. The amount is a result of the licensed trademark used.