Note 5 - Loans Receivable From Property Development Projects

12 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Loan Receivable From Property Development Projects [Text Block]

5.  LOANS RECEIVABLE FROM PROPERTY DEVELOPMENT PROJECTS

The following table presents Trio-Tech (Chongqing) Co. Ltd (“TTCQ”)’s loan receivable from property development projects in China as of June 30, 2023.

	Loan Expiry	Loan Amount			Loan Amount
	Date	(RMB)			(U.S. Dollars)
Short-term loan receivables
JiangHuai (Project – Yu Jin Jiang An)	May 31, 2013		2,000			276
Less: allowance for doubtful receivables			(2,000	)		(276	)
Net loan receivables from property development projects			-			-
Long-term loan receivables
Jun Zhou Zhi Ye	Oct 31, 2016		5,000			689
Less: transfer – down-payment for purchase of investment property			(5,000	)		(689	)
Net loan receivables from property development projects			-			-

The short-term loan receivables of renminbi (“RMB”) 2,000, or approximately $276, arose due to TTCQ entering into a Memorandum Agreement with JiangHuai Property Development Co. Ltd. (“JiangHuai”) to invest in their property development projects located in Chongqing City, China (“Project - Yu Jin Jiang An”) during the year ended June 30, 2011. TTCQ did not generate other income from JiangHuai during Fiscal 2023 or Fiscal 2022. TTCQ is in the legal process of recovering the outstanding amount of $276.

The long-term loan receivable of RMB 5,000, or approximately $689, arose from TTCQ entering into a Memorandum Agreement with JiaSheng Property Development Co. Ltd. (“JiaSheng”) to invest in JiaSheng’s property development projects (“Project B-48 Phase 2”) located in Chongqing City, China during the year ended June 30, 2011. The loan receivable was secured and repayable at the end of the term. During the year ended June 30, 2015, the loan receivable was transferred to a down payment for purchase of investment property that is being developed in the Singapore Themed Resort Project (See Note 10).