Rex International Holding Limited 201 NOTES TO THE FINANCIAL STATEMENTS 5 GOODWILL AND INTANGIBLE ASSETS Group Goodwill Technology Customer contracts Development costs Patents Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Cost At 1 January 2024 34,099 4,700 3,800 5,600 1,928 50,127 Additions – – – – 15 15 Disposals (Note 30(i)) – – – – (1,943) (1,943) Adjustments (3,215) – – – – (3,215) Translation differences (3,187) – – – – (3,187) At 31 December 2024 27,697 4,700 3,800 5,600 – 41,797 Additions – – – 844 – 844 At 31 December 2025 27,697 4,700 3,800 6,444 – 42,641 Accumulated amortisation and impairment loss At 1 January 2024 22,681 4,249 3,436 – 15 30,381 Amortisation – 451 364 633 150 1,598 Disposals (Note 30(i)) – – – – (165) (165) Impairment loss (Note 24) 7,764 – – – – 7,764 Translation differences (2,748) – – – – (2,748) At 31 December 2024 27,697 4,700 3,800 633 – 36,830 Amortisation – – – 1,601 – 1,601 At 31 December 2025 27,697 4,700 3,800 2,234 – 38,431 Carrying amount At 31 December 2024 – – – 4,967 – 4,967 At 31 December 2025 – – – 4,210 – 4,210 Amortisation The amortisation of intangible assets is included in ‘administrative expenses’ in the consolidated statement of comprehensive income. Impairment assessment In 2024, the goodwill relating to the Yme Field was fully impaired due to the depletion and downward revision of proved and probable reserves, a shorter production period and lower applied oil price curve used in the annual assessment.
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