BANK LOANS PAYABLE

6 Months Ended

Dec. 31, 2014

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, 2014			June 30, 2014
	(Unaudited)
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 (4.6% - 5.1% at December 31, 2014) 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 12,016, or approximately $3,438.	$	2,476		$	2,786
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, 2014) per annum, with 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 585, or approximately $443.		-			260
Current portion		(178	)		(448	)
Long term portion of bank loans payable	$	2,298		$	2,598

Future minimum payments (excluding interest) as at December 31, 2014 were as follows:

2015	$	178
2016		187
2017		197
2018		208
2019		218
Thereafter		1,488
Total obligations and commitments	$	2,476

Future minimum payments (excluding interest) as at June 30, 2014 were as follows:

2015	$	448
2016		198
2017		209
2018		220
2019		138
Thereafter		1,833
Total obligations and commitments	$	3,046