BANK LOANS PAYABLE

6 Months Ended

Dec. 31, 2015

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, 2015 (Unaudited)			June 30, 2015
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 (7.4% at December 31, 2015 and June 30, 2015) per annum, with monthly payments of principal plus interest through August 2024, collateralized by the acquired building with a carrying value of $2,751.	$	1,885		$	2,218
Note payable denominated in U.S. dollars to a financial institution for working capital plans in Singapore and its subsidiaries, maturing in December 2015, bearing interest at the bank’s prime rate plus 1.50% (4.1% to 6.9% at December 31, 2015 and June 30, 2015) with monthly payments of principal plus interest through April 2017. This note payable is secured by plant and equipment with a carrying value of $339.		226			326
Current portion		(319	)		(346	)
Long term portion of bank loans payable	$	1,792		$	2,198

Future minimum payments (excluding interest) as at December 31, 2015 were as follows:

2016	$	319
2017		214
2018		165
2019		175
2020		184
Thereafter		1,054
Total obligations and commitments	$	2,111

Future minimum payments (excluding interest) as at 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