NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 December 2021 20. OTHER INTANGIBLE ASSETS Trust management rights with Management indefinite Customer Software contracts useful lives contracts Others Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 (note (i) and (ii)) 31 December 2021 At 1 January 2021: Cost 1,758 33,009 75,246 4,127 720 114,860 Accumulated amortisation (1,271) (23,486) – (3,440) – (28,197) Net carrying amount 487 9,523 75,246 687 720 86,663 At 1 January 2021, net of accumulated amortisation 487 9,523 75,246 687 720 86,663 Additions 182 – – – 235 417 Acquisition of subsidiaries – 23,875 – – – 23,875 Amortisation provided during the year (279) (5,941) – (672) – (6,892) Exchange realignment (21) (1,119) (1,151) (15) (63) (2,369) At 31 December 2021 369 26,338 74,095 – 892 101,694 At 31 December 2021: Cost 1,920 55,553 74,095 3,927 892 136,387 Accumulated amortisation (1,551) (29,215) – (3,927) – (34,693) Net carrying amount 369 26,338 74,095 – 892 101,694 31 December 2020 At 1 January 2020: Cost 1,507 32,720 74,305 4,028 680 113,240 Accumulated amortisation (853) (16,834) – (2,595) – (20,282) Net carrying amount 654 15,886 74,305 1,433 680 92,958 At 1 January 2020, net of accumulated amortisation 654 15,886 74,305 1,433 680 92,958 Additions 210 – – – – 210 Amortisation provided during the year (398) (6,435) – (802) – (7,635) Exchange realignment 21 72 941 56 40 1,130 At 31 December 2020 487 9,523 75,246 687 720 86,663 At 31 December 2020: Cost 1,758 33,009 75,246 4,127 720 114,860 Accumulated amortisation (1,271) (23,486) – (3,440) – (28,197) Net carrying amount 487 9,523 75,246 687 720 86,663 Notes: (i) In June 2019, the Group had acquired SIP, an asset management company providing trust management services in Singapore. The trust management services are expected to continuously contribute to the net cash inflow of the Group. The Group’s trust management rights have indefinite useful lives and are allocated to the Group’s SIP asset management business, which is treated as a cash-generating unit for impairment testing. Further details of the impairment test of the SIP asset management business cash-generating unit are given in note 19. E S R C A Y M A N L I M I T E D A N N U A L R E P O R T 2 0 2 1 195
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