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7. ASSETS HELD FOR SALE
12 Months Ended
Jun. 30, 2017
Assets Held For Sale  
ASSETS HELD FOR SALE

During the fourth quarter of 2015, the operations in Malaysia planned to sell its factory building in Penang, Malaysia. In May 2015, Trio-Tech Malaysia was approached by a potential buyer to purchase the factory building, negotiation is still ongoing with buyers and is subject to approval by Penang Development Corporation. In accordance with ASC Topic 360, during fiscal year 2015, the property was reclassified from investment property, which had a net book value of RM 371, or approximately $98, to assets held for sale, since there was an intention to sell the factory building. The net book values of the building were RM371, or $86, for fiscal years 2017 and RM 371, or approximately $92, for fiscal year 2016. As at end of fiscal year 2017, management is still actively looking for a suitable buyer.