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COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | The Company leases certain facilities and equipment under long-term agreements expiring at various dates through fiscal year 2019 and thereafter. Certain leases require the Company to pay real estate taxes and insurance and provide for escalation of lease costs based on certain indices. Future minimum payments under capital leases and non-cancelable operating leases and net rental income under non-cancelable sub-leased properties as of June 30, 2019 were as follows:
|  |  |  |  |  |  |  | Sub-lease |  |  | Net |
For the Year Ending June 30, |  | Capital Leases |  |  | Operating Leases |  |  | Rental (Income) |  |  | Operating Leases |
2020 |  | $ | 283 |  |  | $ | 646 |  |  | $ | (26 | ) |  | $ | 620 |
2021 |  |  | 187 |  |  |  | 216 |  |  |  | - |  |  |  | 216 |
2022 |  |  | 143 |  |  |  | 47 |  |  |  | - |  |  |  | 47 |
2023 |  |  | 68 |  |  |  | 1 |  |  |  | - |  |  |  | 1 |
2024 |  |  | 44 |  |  |  | - |  |  |  | - |  |  |  | - |
Total future minimum lease payments |  | $ | 725 |  |  | $ | 910 |  |  | $ | (26 | ) |  | $ | 884 |
Less: amount representing interest |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Present value of net minimum lease payments |  |  | 725 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: current portion of capital lease obligations |  |  | 283 |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term obligations under capital leases |  | $ | 442 |  |  |  |  |  |  |  |  |  |  |  |  |
Future minimum payments under capital leases and non-cancelable operating leases and net rental income under non-cancelable sub-leased properties as of June 30, 2018 were as follows:
|  |  |  |  |  |  |  | Sub-lease |  |  | Net |
For the Year Ending June 30, |  | Capital Leases |  |  | Operating Leases |  |  | Rental (Income) |  |  | Operating Leases |
2019 |  | $ | 250 |  |  | $ | 717 |  |  | $ | (26 | ) |  | $ | 691 |
2020 |  |  | 249 |  |  |  | 531 |  |  |  | (26 | ) |  |  | 505 |
2021 |  |  | 150 |  |  |  | 44 |  |  |  | - |  |  |  | 44 |
2022 |  |  | 102 |  |  |  | - |  |  |  | - |  |  |  | - |
2023 |  |  | 23 |  |  |  | - |  |  |  | - |  |  |  | - |
Total future minimum lease payments |  | $ | 774 |  |  | $ | 1,292 |  |  | $ | (52 | ) |  | $ | 1,240 |
Less: amount representing interest |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Present value of net minimum lease payments |  |  | 774 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: current portion of capital lease obligations |  |  | 250 |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term obligations under capital leases |  | $ | 524 |  |  |  |  |  |  |  |  |  |  |  |  |
The Company purchased equipment under the capital lease agreements with rates ranging from 1.88% to 7.50% for fiscal years 2019 and 2018. These agreements mature ranging from July 2019 to Jan 2024. Total rental expense on all operating leases, cancelable and non-cancelable, amounted to $708 and $703 in fiscal years 2019 and 2018, respectively. Trio-Tech (Malaysia) Sdn. Bhd. has a capital commitment for the purchase of equipment and other related infrastructure costs amounting to RM 18, or approximately $4 based on the exchange rate on June 30, 2019 as compared to RM 62, or approximately $16 for the last fiscal year. Trio-Tech Tianjin Co. Ltd has capital commitments for the purchase of equipment and other related infrastructure costs amounting to RMB 397, or approximately $58 based on the exchange rate on June 30, 2019 as compared to RMB 3,927, or approximately $593 based on the exchange rate on June 30, 2018. Deposits with banks in China are not insured by the local government or agency, and are consequently exposed to risk of loss. The Company believes the probability of a bank failure, causing loss to the Company, is remote. The Company is, from time to time, the subject of litigation claims and assessments arising out of matters occurring in its normal business operations. In the opinion of management, resolution of these matters will not have a material adverse effect on the Company’s financial statements.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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