BANK LOANS PAYABLE

6 Months Ended

Dec. 31, 2013

Notes to Financial Statements

BANK LOANS PAYABLE (IN THOUSANDS, EXCEPT EARNINGS PER SHARE AND NUMBER OF SHARES)

Bank loans payable consisted of the following:

	Dec. 31, 2013 (Unaudited)			June 30, 2013
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 (5.1% at December 31, 2013) per annum, with monthly payments of principal plus interest through August 2024, collateralized by the acquired building with the net book value of Malaysian ringgit 12,133, or approximately $3,697		573			885
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% (5.1% at December 31, 2013) per annum, monthly payments of principal plus interest through December 2014. This note payable is secured by plant and equipment with the net book value of Singapore dollars 679, or approximately $537.		2,351			2,498
Current portion		(717	)		(770	)
Long term portion of bank loans payable	$	2,207		$	2,613

Future minimum payments (excluding interest) as at December 31, 2013 were as follows:

2013	$	717
2014		152
2015		160
2016		168
2017		175
Thereafter		1,552
Total obligations and commitments	$	2,924