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BANK LOANS PAYABLE (Tables) | 9 Months Ended
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Mar. 31, 2017
Bank Loans Payable Tables |
Bank loans payable |
Bank loans payable consisted of the following: |  | Mar. 31, 2017 |  |  | June 30, 2016 |
|  | (Unaudited) |  |  |  |
Note payable denominated in RM to a commercial bank for expansion plans in Malaysia, maturing in August 2024, bearing interest at the bank’s prime rate plus 1.50% (5.25% and 5.45% at March 31, 2017 and June 30, 2016) per annum, with monthly payments of principal plus interest through August 2024, collateralized by the acquired building with a carrying value of $2,604 and 2,898, as at March 31, 2017 and June 30, 2016, respectively. |  |  | 1,781 |  |  |  | 2,052 |
Note payable denominated in U.S. dollars to a commercial bank for expansion plans in Singapore and its subsidiaries, maturing in March 2017, bearing interest at the bank’s lending rate (7.5% for both March 31, 2017 and June 30, 2016) with monthly payments of principal plus interest through April 2017. This note payable is secured by plant and equipment with a carrying value of $237 and $294, as at March 31, 2017 and June 30, 2016, respectively. |  |  | 19 |  |  |  | 154 |
Total Bank loans payable |  |  | 1,800 |  |  |  | 2,206 |
Current portion of bank loan payable |  |  | 222 |  |  |  | 352 |
Currency translation effect on current portion of bank loan |  |  | (23 | ) |  |  | (10 | )
Current portion of bank loan payable |  |  | 199 |  |  |  | 342 |
Long term portion of bank loan payable |  |  | 1,578 |  |  |  | 1,854 |
Currency translation effect on long-term portion of bank loan |  |  | (150 | ) |  |  | (129 | )
Long term portion of bank loans payable |  | $ | 1,428 |  |  | $ | 1,725 |
Future minimum payments | Future minimum payments (excluding interest) as at March 31, 2017 were as follows:
2018 |  | $ | 199 |
2019 |  |  | 194 |
2020 |  |  | 205 |
2021 |  |  | 215 |
2022 |  |  | 227 |
Thereafter |  |  | 587 |
Total obligations and commitments |  | $ | 1,627 |
Future minimum payments (excluding interest) as at June 30, 2016 were as follows:
2017 |  | $ | 342 |
2018 |  |  | 204 |
2019 |  |  | 215 |
2020 |  |  | 226 |
2021 |  |  | 239 |
Thereafter |  |  | 841 |
Total obligations and commitments |  | $ | 2,067 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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