BANK LOANS PAYABLE

3 Months Ended

Sep. 30, 2016

Notes to Financial Statements

BANK LOANS PAYABLE

Bank loans payable consisted of the following:

	Sept. 30, 2016 (Unaudited)			June 30, 2016
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% (5.25% and 5.45% at September 30, 2016 and June 30, 2016) per annum, with monthly payments of principal plus interest through August 2024, collateralized by the acquired building with a carrying value of $2,800 and 2,898, as at September 30, 2016 and June 30, 2016, respectively.		1,815			1,919
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 (7.5% and 7.3% at September 30, 2016 and June 30, 2016) with monthly payments of principal plus interest through April 2017. This note payable is secured by plant and equipment with a carrying value of $275 and 294, as at September 30, 2016 and June 30, 2016, respectively.		103			148
Current portion		(295	)		(342	)
Long term portion of bank loans payable	$	1,623		$	1,725

Future minimum payments (excluding interest) as at September 30, 2016 were as follows: 

2017	$	295
2018		202
2019		213
2020		224
2021		236
Thereafter		748
Total obligations and commitments	$	1,918

Future minimum payments (excluding interest) as at June 30, 2016 were as follows: 

2017	$	342
2018		204
2019		215
2020		226
2021		239
Thereafter		841
Total obligations and commitments	$	2,067