Bank borrowings (Tables)

12 Months Ended

Dec. 31, 2018

ZHEJIANG TIANLAN

Bank borrowings

	2018		2017
	RMB’000		RMB’000
Bank loan borrowed by the Company (note i)		40,000		28,000
Bank loan borrowed by a subsidiary of the Company (note ii)		5,000		5,000
		45,000		33,000

(i) The bank loan is denominated in Renminbi and is repayable within 1 year. The bank loan borrowed by the Company as of December 31, 2018 bears interest at fixed rates ranged from 5.0025% to 6.74% (2017: 4.87% and 5.22%) per annum. Interest paid during the year ended December 31, 2018 was approximately RMB2,089,000 (2017: RMB1,720,000 and 2016: RMB1,221,000).

(ii) The bank loan is denominated in Renminbi and is repayable within 1 year. The bank loan borrowed by a subsidiary of the Company as of December 31, 2018 bears interest at fixed rates 5.66% (2017: 5.39%) per annum and is secured by the subsidiary’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2018 was approximately RMB278,000 (2017: RMB272,000 and 2016: RMB154,000).