LOANS RECEIVABLE FROM PROPERTY DEVELOPMENT PROJECTS

12 Months Ended

Jun. 30, 2021

Loans and Leases Receivable Disclosure [Abstract]

LOANS RECEIVABLE FROM PROPERTY DEVELOPMENT PROJECTS

The following table presents Trio-Tech (Chongqing) Co. Ltd (“TTCQ”)’s loan receivable from property development projects in China as of June 30, 2021.

	Loan Expiry	Loan Amount			Loan Amount
	Date	(RMB)			(U.S. Dollars)
Short-term loan receivables
JiangHuai (Project - Yu Jin Jiang An)	May 31, 2013		2,000			309
Less: allowance for doubtful receivables			(2,000	)		(309	)
Net loan receivable from property development projects			-			-
Long-term loan receivables
Jun Zhou Zhi Ye	Oct 31, 2016		5,000			773
Less: transfer – down payment for purchase of investment property			(5,000	)		(773	)
Net loan receivable from property development projects			-			-

The short-term loan receivables of renminbi (“RMB”) 2,000, or approximately $309, arose due to TTCQ entering into a Memorandum Agreement with JiangHuai Property Development Co. Ltd. (“JiangHuai”) to invest in their property development projects (Project - Yu Jin Jiang An) located in Chongqing City, China in fiscal 2011. TTCQ is in the legal process of recovering the outstanding amount of $309.

The long-term loan receivable of RMB 5,000, or approximately $773, arose from TTCQ entering into a Memorandum Agreement with JiaSheng Property Development Co. Ltd. (“JiaSheng”) to invest in JiaSheng’s property development projects (Project B-48 Phase 2) located in Chongqing City, China in fiscal 2011. The loan receivable was secured and repayable at the end of the term. The book value of the loan receivable approximates its fair value. During fiscal year 2015, the loan receivable was transferred to down payment for purchase of investment property that is being developed in the Singapore Themed Resort Project (See Note 10).