BANK LOANS PAYABLE

6 Months Ended

Dec. 31, 2017

Notes to Financial Statements

BANK LOANS PAYABLE

Bank loans payable consisted of the following:

	Dec. 31, 2017 (Unaudited)		June 30, 2017
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 5.25% at December 31, 2017 and June 30, 2017) 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 2,671, as at December 31, 2017 and June 30, 2017, respectively.		1,518		1,735
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 3.96% for December 31, 2017 and June 30, 2017) with monthly payments of principal plus interest through June 2020. This note payable is secured by plant and equipment with a carrying value of $215 and $224, as at December 31, 2017 and June 30, 2017, respectively.		363		196
Total bank loans payable	$	1,881	$	1,931

Current portion of bank loans payable		346		271
Currency translation effect on current portion of bank loans		10		(11	)
Current portion of bank loans payable		356		260
Long term portion of bank loans payable		1,535		1,660
Currency translation effect on long-term portion of bank loans		82		(108	)
Long term portion of bank loans payable	$	1,617	$	1,552

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

2018	$	356
2019		373
2020		298
2021		244
2022		127
Thereafter		575
Total obligations and commitments	$	1,973

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

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