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BUSINESS ACQUISITION - Fair Value of Net Identifiable Assets Acquired (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Feb. 11, 2020
Current liabilities    
Schedule of fair value of net identifiable assets acquired and goodwill
The fair values of net identifiable assets acquired at the date of acquisition were as follows:
February 11, 2020
 $
Current assets
Cash484 
     Trade receivables (1)
2,749 
     Inventories5,123 
     Other current assets199 
Property, plant and equipment921 
Intangible assets21,519 
30,995 
Current liabilities
     Accounts payable and accrued liabilities9,493 
     Borrowings and lease liabilities, current143 
Borrowings and lease liabilities, non-current5 
9,641 
Fair value of net identifiable assets acquired21,354 
(1)The gross contractual amounts receivable were $3.2 million. As of December 31, 2020, the Company has collected approximately $2.9 million of the outstanding trade receivables, with $0.3 million expected to remain uncollected.
The fair value of goodwill at the date of acquisition was as follows:
February 11, 2020
 $
Consideration transferred 46,994 
Less: fair value of net identifiable assets acquired21,354 
Goodwill25,640 
  
Nortech Packaging Acquisition    
Current assets    
Cash   $ 484
Trade receivables   2,749
Inventories   5,123
Other current assets   199
Property, plant and equipment   921
Intangible assets   21,519
Identifiable assets acquired   30,995
Current liabilities    
Accounts payable and accrued liabilities   9,493
Borrowings and lease liabilities, current   143
Borrowings and lease liabilities, non-current   5
Identifiable liabilities recognised   9,641
Fair value of net identifiable assets acquired   21,354
Gross contractual amounts receivable for acquired receivables   $ 3,200
Proceeds from collection of acquired receivables $ 2,900  
Trade receivables expected to remain uncollected $ 300