The provision for depreciation is computed on the straight-line method over the estimated
useful lives of the assets, which range from 3 to 91 years. The weighted average composite
depreciation rate was 2.44% and 2.58% in 2021 and 2020, respectively.
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash
reported within the consolidated balance sheets that sum to the total of the same such
amounts shown in the statements of cash flows.
(in thousands) 2021 2020
Cash and cash equivalents S$ 1,493 $ 310
Restricted cash - RSFs and Restricted Accounts 11,619 8,611
Restricted cash - CIAC 1,037 274
Restricted cash - Bond Project Funds 255 237
Total cash, cash equivalents and restricted cash
shown in the consolidated statements of cashflows S 14,404 $ 9,432
Amounts included in restricted cash represent those required to be set aside as outlined in
Note 1.
Accounts Receivable
Accounts receivable consisted of the following at December 31, 2021 and 2020:
(in thousands) 2021 2020
Accounts receivable - billed S 3,663 S 4,365
Less allowance for doubtful accounts (87) (68)
Accounts receivable - billed, net S 3,576 S 4,297
Accounts receivable - unbilled S 6,277 S 4,473
Less allowance for doubtful accounts - -
Accounts receivable - unbilled, net S 6,277 S 4,473
21
