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INVESTMENT PROPERTIES | 12 Months Ended
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Jun. 30, 2013
Investment Properties |
Note 15. INVESTMENT PROPERTIES (In Thousands) | The following table presents the Company’s investment in the properties as of June 30, 2013. The exchange rate is based on the exchange rate as of June 30, 2013 published by the Monetary Authority of Singapore.
| Investment Date |  | Investment Amount (RMB) |  |  | Investment Amount (U.S. Dollars) |
Purchase of Property I – MaoYe | 01/04/2008 |  |  | 5,554 |  |  |  | 904 |
Purchase of Property II – JiangHuai | 01/06/2010 |  |  | 3,600 |  |  |  | 586 |
Purchase of Property III – FuLi | 01/04/2010 |  |  | 4,025 |  |  |  | 655 |
Gross investment in rental property |  |  |  | 13,179 |  |  |  | 2,145 |
Accumulated depreciation on rental property | 06/30/2013 |  |  | (2,302 | ) |  |  | (375 | )
Net investment in properties – China |  |  |  | 10,877 |  |  |  | 1,770 |
The following table presents the Company’s investment in the property in Malaysia as of June 30, 2013. The exchange rate is based on the exchange rate as of June 30, 2013 published by the Monetary Authority of Singapore.
| Investment Date |  | Investment Amount (RM) |  |  | Investment Amount (U.S. Dollars) |
Reclassification of Penang Property I | 31/12/2012 |  |  | 681 |  |  |  | 214 |
Gross investment in rental property |  |  |  | 681 |  |  |  | 214 |
Accumulated depreciation on rental property | 06/30/2013 |  |  | (294 | ) |  |  | (91 | )
Net investment in rental properties - Malaysia |  |  |  | 387 |  |  |  | 123 |
Rental Property I - MaoYe In fiscal 2008, Trio-Tech (Chongqing) Co. Ltd. (“TTCQ”) purchased an office in Chongqing, China from MaoYe Property Ltd. (“MaoYe”) for a total cash purchase price of RMB 5,554, equivalent to approximately $904 based on the exchange rate as of June 30, 2013 published by the Monetary Authority of Singapore. TTCQ rented this property to a third party on July 13, 2008. The term of the rental agreement was five years. The rental agreement was renewed on July 16, 2013 for a further period of five years and the agreement expires on July 15, 2018. The rent increases by 8% every year after July 15, 2015. Property purchased from MaoYe generated a rental income of $86 and $78 for fiscal years 2013 and 2012, respectively. Rental Property II – JiangHuai In fiscal 2010, TTCQ purchased eight units of commercial property from Chongqing Jiang Huai Real Estate Development Co. Ltd. (“JiangHuai”) for a total cash purchase price of RMB 3,600, or approximately $586 based on the exchange rate as of June 30, 2013 published by the Monetary Authority of Singapore. TTCQ rented these commercial units to a third party until the agreement expired in January 2012. TTCQ rented three of the eight commercial units to another third party during the fourth quarter of fiscal 2013 and the rental agreement expires on March 31, 2014. Property purchased from JiangHuai generated a rental income of $3 and $66 for fiscal years 2013 and 2012, respectively. Other Properties III – FuLi In fiscal 2010, TTCQ entered into a Memorandum Agreement with Chongqing Fu Li Real Estate Development Co., Ltd. (“FuLi”) to purchase two commercial properties totaling 311.99 square meters (“office space”), located in Jiang Bei District Chongqing. The total purchase price committed and paid was RMB 4,025, or approximately $655 based on the exchange rate as of June 30, 2013 published by the Monetary Authority of Singapore. The development was completed and the property was handed over during April 2012 and the title deed was received during the third quarter of fiscal 2013. One of the two rental agreements expires in April 2014 and the other in August 2014. Property purchased from FuLi generated a rental income of $43 and $3 for fiscal years 2013 and 2012, respectively. Penang Property I In the fourth quarter of fiscal 2012, Trio-Tech Malaysia Sdn. Bhd. (“TTM”) determined to sell the factory building in Penang, However as the government authorities did not approve the transaction, the sale did not take place. Because the market value is increasing during the second quarter of fiscal 2013, TTM decided to hold the factory building in Penang as an investment rental property. Hence TTM reclassified the factory building as investment property at the end of the second quarter of fiscal 2013, which had a net book value of $123. In fiscal 2013 the depreciation expenses were $ 7. There was no such depreciation in fiscal 2012 since the asset was classified as “Assets held for sales”. Summary Total rental income for the investment properties in China was $132 and $148 for fiscal years 2013 and 2012, respectively. Depreciation expenses for the investment properties in China and Malaysia were $112 and $77 for fiscal years 2013 and 2012, respectively.

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