Bank borrowings

12 Months Ended

Dec. 31, 2023

ZHEJIANG TIANLAN

Bank borrowings

12. Bank borrowings

	December 31,
	2023		2022
	RMB’000		RMB’000
Bank loans borrowed by the Company (note i)		1,502		501
Bank loans borrowed by subsidiaries of the Company (note ii)		5,007		5,007
		6,509		5,508

(i)

The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by the Company as of December 31, 2023 bears interest at fixed rates of 4.05% (2022: 3.85%) per annum. Interest paid during the year ended December 31, 2023 was approximately RMB32,000 (2022: RMB408,000 and 2021: RMB253,000).

(ii)

The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by subsidiaries of the Company as of December 31, 2023, bears interest at a fixed rate of 5.3 % (2022: a fixed rate of 4.85 %) per annum and are secured by the subsidiary’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2023 was approximately RMB221,000 (2022: RMB218,000 and 2021: RMB427,000).