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11A. Short term borrowings (ZHEJIANG)
 12 Months Ended
Dec. 31, 2012
ZHEJIANG
  
12. Short term borrowings
12  Short term borrowings

 

    2012     2011  
    RMB’000     RMB’000  
             
Bank loan borrowed by the Company (note i)     55,000       36,000  
Bank loan borrowed by a subsidiary of the Company (note ii)     5,000       5,000  
                 
      60,000       41,000  

 

(i) The bank loan is denominated in Renminbi and repayable within 1 year. The bank loan borrowed by the Company as of December 31, 2012 bear interest at fixed rates 6.00% to 7.87% (2011: 5.81% to 7.87%) per annum and are secured by the Company’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2012 was approximately RMB3,137,000 (2011: RMB1,480,000 and 2010: RMB352,000).

 

(ii) The bank loan is denominated in Renminbi and repayable within 1 year. The bank loan borrowed by a subsidiary of the Company as of December 31, 2012 bear interest at fixed rates 7.50% to 7.87% (2011: 7.54% to 7.87%) per annum and are secured by the subsidiary’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2012 was approximately RMB391,245 (2011: RMB115,000).