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LINES OF CREDIT | 6 Months Ended
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Dec. 31, 2015
Notes to Financial Statements |
LINES OF CREDIT (IN THOUSANDS, EXCEPT EARNINGS PER SHARE AND NUMBER OF SHARES) | Carrying value of the Company’s lines of credit approximates its fair value because the interest rates associated with the lines of credit are adjustable in accordance with market situations when the Company borrowed funds with similar terms and remaining maturities. The Company’s credit rating provides it with readily and adequate access to funds in global markets. As of December 31, 2015, the Company had certain lines of credit that are collateralized by restricted deposits.
Entity with |  | Type of |  | Interest |  | Expiration |  |  | Credit |  |  | Unused |
Facility |  | Facility |  | Rate |  | Date |  |  | Limitation |  |  | Credit |
Trio-Tech International Pte. Ltd., Singapore |  | Lines of Credit |  | Ranging from 1.9% to 5.6% |  |  | - |  |  | $ | 5,482 |  |  | $ | 4,010 |
Trio-Tech (Malaysia) Sdn. Bhd. |  | Lines of Credit |  | Ranging from 6.3% to 6.7% |  |  | - |  |  | $ | 384 |  |  | $ | 384 |
Trio-Tech (Tianjin) Co., Ltd. |  | Lines of Credit |  | Ranging from 4.9% to 6.3% |  |  | - |  |  | $ | 1,232 |  |  | $ | 1,232 |
The Company’s credit rating provides it with readily and adequate access to funds in global markets. As of June 30, 2015, the Company had certain lines of credit that are collateralized by restricted deposits.
Entity with |  | Type of |  | Interest |  | Expiration |  |  | Credit |  |  | Unused |
Facility |  | Facility |  | Rate |  | Date |  |  | Limitation |  |  | Credit |
Trio-Tech International Pte. Ltd., Singapore |  | Lines of Credit |  | Ranging from 1.9% to 5.6% |  |  | - |  |  | $ | 7,422 |  |  | $ | 6,161 |
Trio-Tech (Malaysia) Sdn. Bhd. |  | Lines of Credit |  | Ranging from 6.3% to 6.7% |  |  | - |  |  | $ | 396 |  |  | $ | 79 |
Trio-Tech (Tianjin) Co., Ltd. |  | Lines of Credit |  | Ranging from 4.9% to 6.3% |  |  | - |  |  | $ | 1,289 |  |  | $ | 1,289 |
On April 10, 2015, Trio-Tech Tianjin signed an agreement with a bank for an Accounts Receivable Financing facility for RMB 8,000, or approximately $1,289, wherein interest is charged at the bank’s lending rate plus a floating interest rate. The effective interest rate is 130% of the bank’s lending rate. The financing facility was set up to facilitate the growing testing operations in our Tianjin operations in China. The immediate holding company, Trio-Tech International Pte. Ltd., acted as the guarantor for this bank facility. The bank account for this facility was set up on August 24, 2015.

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