XML 34 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans Secured by Real Estate (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Long Term Bank Loans

    As of     As of  
    March 31, 2018     December 31, 2017  
      (Unaudited)          
(A) Standard Chartered Saadiq Berhad, Malaysia   $ 378,416     $ 363,974  
                 
(B) United Overseas Bank (Malaysia) Berhad     259,933       249,459  
                 
(C) Bank of China Limited, Shenzhen, PRC     1,398,362       1,383,360  
                 
(D) Loan from non-banking lender, Hong Kong     645,161       774,194  
                 
      2,681,872       2,770,987  
Less: current portion     (805,097 )     (928,147 )
Loans secured by real estate, net of current portion   $ 1,876,775     $ 1,842,840  

 

(A) Loan payable to Standard Chartered Saadiq Berhad, secured by two office units at Skypark One City, Selangor in Kuala Lumpur, Malaysia. The loan bears interest at the base lending rate less 2.1% per annum (6.95% at March 31, 2018) with 300 monthly installments of MYR9,287 (approximately $2,840) each and will mature in May 2038. The mortgage loan is secured by the property and various guarantees from officers of the Company.
   
(B) Loan payable to United Overseas Bank (Malaysia) Berhad secured by an office unit at Northpoint, Mid Valley City in Kuala Lumpur, Malaysia. Mr. Lee Chong Kuang, the chief executive officer of the Company, obtained the loan for the Company. The loan bears interest at the base lending rate less 2.2% per annum (6.96% at March 31, 2018) with 360 monthly installments of MYR5,382 (approximately $1,645) each and will mature in August 2043.
   
(C) Loan payable to Bank of China Limited secured by three office units at the Di Wang Building (Shun Hing Square), Shenzhen, China. The loan bears interest at a 25% premium above the 5-year-or-above RMB base lending rate per annum (6.125% at March 31, 2018) with 120 monthly installments and will mature in December 2027. The mortgage loan is secured by the property, a restricted-cash deposit of RMB 1,000,000 (approximately $153,707), the accounts receivable of Greenpro Management Consultancy (Shenzhen) Limited, and various guarantees from officers and employees of the Company.
   
(D) Loan payable to Laboratory JaneClare Limited, a non-banking lender located in Hong Kong. The loan is secured by the Company’s real estate held for sale, bears interest at 8.4% per annum, and is due September 12, 2018.