BANK LOANS PAYABLE

3 Months Ended

Sep. 30, 2018

Notes to Financial Statements

BANK LOANS PAYABLE

Bank loans payable consisted of the following:

	Sept. 30, 2018 (Unaudited)		June 30, 2018
Note payable denominated in RM for expansion plans in Malaysia, maturing in August 2028, bearing interest at the bank’s prime rate less 1.50% (5.00% at September 30, 2018 and June 30, 2018) per annum, with monthly payments of principal plus interest through August 2028, collateralized by the acquired building with a carrying value of $5,666 and 2,809, as at September 30, 2018 and June 30, 2018, respectively.		2,935		1,615
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% for September 30, 2018 and June 30, 2018) with monthly payments of principal plus interest through June 2020. This note payable is secured by plant and equipment with a carrying value of $177 and $187, as at September 30, 2018 and June 30, 2018, respectively.		254		293
Total bank loans payable	$	3,189	$	1,908

Current portion of bank loan payable		486			380
Currency translation effect on current portion of bank loan		(8	)		(13	)
Current portion of bank loan payable		478			367
Long term portion of bank loan payable		2,703			1,528
Currency translation effect on long-term portion of bank loan		(56	)		(91	)
Long term portion of bank loans payable	$	2,647		$	1,437

Future minimum payments (excluding interest) as at September 30, 2018 were as follows: 

2019	$	478
2020		449
2021		363
2022		382
2023		401
Thereafter		1,052
Total obligations and commitments	$	3,125

Future minimum payments (excluding interest) as at June 30, 2018 were as follows: 

2019	$	367
2020		372
2021		242
2022		254
2023		267
Thereafter		302
Total obligations and commitments	$	1,804