BANK LOANS PAYABLE

9 Months Ended

Mar. 31, 2017

Notes to Financial Statements

BANK LOANS PAYABLE

Bank loans payable consisted of the following:	Mar. 31, 2017			June 30, 2016
	(Unaudited)
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 March 31, 2017 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 $2,604 and 2,898, as at March 31, 2017 and June 30, 2016, respectively.		1,781			2,052
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% for both March 31, 2017 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 $237 and $294, as at March 31, 2017 and June 30, 2016, respectively.		19			154
Total Bank loans payable		1,800			2,206
Current portion of bank loan payable		222			352
Currency translation effect on current portion of bank loan		(23	)		(10	)
Current portion of bank loan payable		199			342
Long term portion of bank loan payable		1,578			1,854
Currency translation effect on long-term portion of bank loan		(150	)		(129	)
Long term portion of bank loans payable	$	1,428		$	1,725

Future minimum payments (excluding interest) as at March 31, 2017 were as follows: 

2018	$	199
2019		194
2020		205
2021		215
2022		227
Thereafter		587
Total obligations and commitments	$	1,627

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