BANK LOANS PAYABLE

12 Months Ended

Jun. 30, 2012

Bank Loans Payable

Note 10. BANK LOANS PAYABLE (In Thousands)

Bank loans payable consisted of the following:

	For the Year Ended June 30
	2012			2011
Note payable denominated in Singapore dollars to a commercial bank for expansion plans in Singapore and China, maturing in December 2014, bearing interest at the bank’s prime rate (4.75%, at June 30, 2012 and 0% at June 30, 2011), with monthly payments of principal plus interest of approximately $56, through December 2014. This note payable is secured by equipment with carrying value of $835 on the consolidated balance sheet. (Note payable of $215 maturing in August 2012 was paid off in August 2012.)	$	1,510		$	-
Note payable denominated in Malaysian ringgit to a commercial bank for expansion plans in Malaysia, maturing in August 2024, bearing interest at the bank’s lending rate (6.05% less 1.5% at June 30, 2012 and 2011), with monthly payments of principal plus interest of $29, through August 2024 in fiscal 2012 and monthly payments of principal plus interest of $27 in fiscal 2011. This loan payable is secured by a charge on the property in Malaysia with a carrying value of $5,635 and $4,177 as at June 30, 2012 and June 30, 2011, respectively.		2,629			2,915
Current portion		(766	)		(147	)
Long term portion of bank loans payable	$	3,373		$	2,768

Future minimum payments (excluding interest) as of June 30, 2012 were as follows:

2013	$	766
2014		773
2015		407
2016		160
2017		169
Thereafter		1,864
Total obligations and commitments	$	4,139

The bank loans payable non-current portion of $3,373 matures in the year ending June 30, 2025.