BANK LOANS PAYABLE

9 Months Ended

Mar. 31, 2012

Notes to Financial Statements

Note 15 - BANK LOANS PAYABLE

Bank loans payable consisted of the following:

	Mar. 31, 2012 (Unaudited)			June 30, 2011
Note payable denominated in Malaysian ringgit to a commercial bank for infrastructure investment, maturing in August 2024, bearing interest at the bank’s prime rate (4.75% at March 31, 2012) per annum, with monthly payments of principal plus interest of $24 through August 2024, collateralized by the acquired building.		2,767			2,915
Note payable denominated in U.S. dollars to a financial institution for working capital plans in Singapore and its subsidiaries, maturing in December 2014, bearing interest at the bank’s prime rate plus 1.50% (4.75% at March, 2012) with monthly payments of principal plus interest of $52 through December 2014. This note payable is secured by plant and equipment with the net book value of $1,163.		1,666			--
Current portion		(761	)		(147	)
Long term portion of bank loans payable	$	3,672		$	2,768

Malaysia operations has entered into an equipment financing arrangement with CIMB for the future purchase of equipment at a maximum amount of Malaysian ringgit 2.5 million or approximately $823. Amounts will be drawn down when the equipment is purchased and the loan is secured by the equipment, bears an interest rate of 3.94% per annum and is repayable in 5 years from the date of purchase. As of March 31, 2012 the Malaysia operations has not utilized the equipment financing arrangement.

Future minimum payments (excluding interest) as at March 31, 2012 were as follows:

2012	$	761
2013		769
2014		583
2015		165
2016		174
Thereafter		1982
Total obligations and commitments	$	4,434