15. BANK LOANS PAYABLE

12 Months Ended

Jun. 30, 2017

Notes to Financial Statements

BANK LOANS PAYABLE

Bank loans payable consisted of the following

:

	June 30, 2017			June 30, 2016
Note payable denominated in RM for expansion plans in Malaysia, maturing in August 2024, bearing interest at the bank’s prime rate less 1.50% (5.25% and 5.45% at June 30, 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 $2,671 and 2,898, as at June 30, 2017 and June 30, 2016, respectively.		1,735			2,052
Note payable denominated in U.S. dollars for expansion plans in Singapore and its subsidiaries, maturing in April 2020, bearing interest at the bank’s lending rate (3.96% and 7.5% for June 30, 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 $224 and $294, as at June 30, 2017 and June 30, 2016, respectively.		196			154
Total bank loans payable		1,931			2,206
Current portion of bank loan payable		271			352
Currency translation effect on current portion of bank loan		(11	)		(10	)
Current portion of bank loan payable		260			342
Long term portion of bank loan payable		1,660			1,854
Currency translation effect on long-term portion of bank loan		(108	)		(129	)
Long term portion of bank loans payable	$	1,552		$	1,725

Future minimum payments (excluding interest) as of June 30, 2017 were as follows:

2018	$	260
2019		273
2020		274
2021		225
2022		236
Thereafter		544
Total obligations and commitments	$	1,812

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

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