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Concentrations of Risk | 12 Months Ended
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Jun. 30, 2020
Risks and Uncertainties [Abstract] |
Concentrations of risk | Note 14 – Concentrations of risk Credit Risk The Company is exposed to credit risk from its cash in bank and fixed deposits, and other receivables on disposal and advances on performance obligations. As of June 30, 2020, approximately $0.5 million was on deposit with a bank located in the US subject to credit risk. In the US, the insurance coverage of each bank is USD $250,000. Management believes that the credit risk on cash in bank and fixed deposits is limited because the counterparties are recognized financial institutions. Other receivables, prepayments and advances are subject to credit evaluation. An allowance will be made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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