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BANK LOANS PAYABLE

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Note 15 - BANK LOANS PAYABLE

Bank loans payable consisted of the following:

		Dec. 31, 2011 (Unaudited)				June 30, 2011
Note payable denominated in Malaysian Ringgit to a commercial bank for infrastructure investment, maturing in August 2024, bearing interest at the bank’s prime rate (4.75% at December 31, 2011) per annum, with monthly payments of principal plus interest through August 2024, collateralized by the acquired building.			2,705				2,915

Note payable denominated in US dollars to a financial institution for working capital plans in Singapore and its subsidiaries, maturing in December 2014, bearing interest at the bank’s prime rate plus 1.50% (4.75% at December 2, 2011) with monthly payments of principal plus interest of $52 through December 2014. This note payable is secured by plant and equipments with the net book value of $1,163.			1,883				--

Current portion			(768	)			(147	)
Long term portion of bank loans payable		$	3,820			$	2,768

Future minimum payments (excluding interest) as at December 31, 2011 were as follows:

2012		$	768
2013			767
2014			774
2015			157
2016			165
Thereafter			1,957
Total obligations and commitments		$	4,588

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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