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10. |
CASH AND CASH EQUIVALENTS |
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As of December 31, |
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2017 |
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2016 |
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US$’000 |
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US$’000 |
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Cash on hand and cash at banks |
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46,093 |
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48,231 |
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Cash at banks earns interest at floating rates based on daily bank deposit rates. Cash equivalents include short-term deposits which are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Company, and earn interest at the respective short-term deposit rates. As of December 31, 2017 and 2016, the Company had no cash equivalents.