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BANK LOANS PAYABLE (Tables) | 6 Months Ended
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Dec. 31, 2014
Bank Loans Payable Tables |
Bank loans payable | Bank loans payable consisted of the following:
|  | Dec. 31, 2014 |  |  | June 30, 2014 |
|  | (Unaudited) |  |  |  |
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 (4.6% to 5.1% at December 31, 2014) per annum, with monthly payments of principal plus interest through August 2024, collateralized by the acquired building with the net book value of Malaysian ringgit 12,016, or approximately $3,438. |  | $ | 2,476 |  |  | $ | 2,786 |
Note payable denominated in U.S. 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% (5.1% at December 31, 2014) per annum, with monthly payments of principal plus interest through December 2014. This note payable is secured by plant and equipment with the net book value of Singapore dollars 585, or approximately $443. |  |  | - |  |  |  | 260 |
Current portion |  |  | (178 | ) |  |  | (448 | )
Long term portion of bank loans payable |  | $ | 2,298 |  |  | $ | 2,598 |
Future minimum payments | Future minimum payments (excluding interest) as at December 31, 2014 were as follows:
| 2015 |  |  | $ | 178 |
| 2016 |  |  |  | 187 |
| 2017 |  |  |  | 197 |
| 2018 |  |  |  | 208 |
| 2019 |  |  |  | 218 |
| Thereafter |  |  |  | 1,488 |
| Total obligations and commitments |  |  | $ | 2,476 |
Future minimum payments (excluding interest) as at June 30, 2014 were as follows:
| 2015 |  |  | $ | 448 |
| 2016 |  |  |  | 198 |
| 2017 |  |  |  | 209 |
| 2018 |  |  |  | 220 |
| 2019 |  |  |  | 138 |
| Thereafter |  |  |  | 1,833 |
| Total obligations and commitments |  |  | $ | 3,046 |

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