15. BANK LOANS PAYABLE

12 Months Ended

Jun. 30, 2015

Notes to Financial Statements

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

15. BANK LOANS PAYABLE

Bank loans payable consisted of the following:

	For the Year Ended June 30,
	2015			2014
Note payable denominated in U.S. dollars to a commercial bank for expansion plans in Singapore and its subsidiaries, maturing in March 2017, bearing interest at the bank’s lending rate (7.3% at June 30, 2015 and 2014), with monthly payments of principal plus interest of $18 through March 2017. This note payable is secured by plant and equipment with the net book value of $357 and $469 as at June 30, 2015 and 2014, respectively.		326			260
Note payable denominated in RM to a commercial bank for expansion plans in Malaysia, maturing in August 2024, bearing interest at the bank’s prime rate plus 1.50% (4.1% to 6.9% at June 30, 2015 and 2014), with monthly payments of principal plus interest of $12 and $23 through August 2024 in fiscal year 2015 and 2014, respectively. This loan payable is collateralized by the acquired building with the net book value of $3,146 and $3,748 as at June 30, 2015 and 2014, respectively.		2,218			2,786
Current portion		(346	)		(448	)
Long term portion of bank loans payable	$	2,198		$	2,598

Future minimum payments (excluding interest) as of June 30, 2015 were as follows:

2016	$	346
2017		322
2018		183
2019		193
2020		203
Thereafter		1,297
Total obligations and commitments	$	2,544

Future minimum payments (excluding interest) as of 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