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12A. Short term borrowings
 12 Months Ended
Dec. 31, 2013
ZHEJIANG TIANLAN
  
Short term borrowings

 

    2013     2012  
    RMB’000     RMB’000  
             
Bank loan borrowed by the Company (note i)     59,690       55,000  
Bank loan borrowed by a subsidiary of the Company (note ii)     5,000       5,000  
                 
      64,690       60,000  

 

  (i)   The bank loan is denominated in Renminbi and repayable within 1 year. The bank loan borrowed by the Company as of December 31, 2013 bear interest at fixed rates 5.60% to 7.87% (2012: 6.00% 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, 2013 was approximately RMB3,704,000 (2012: RMB3,137,000 and 2011: RMB1,480,000).

 

  (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, 2013 bear interest at fixed rates 7.50% (2012: 7.50% 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, 2013 was approximately RMB391,000 (2012: RMB391,000).

 
ZHEJIANG JIAHUAN
  
Short term borrowings

The short term loans as of December 31, 2013 bear interest at fixed rates ranging from 6.83% to 7.80% per annum with maturity dates from 7 April, 2014 to 27 August, 2014 and are secured by the Company’s buildings and land use right. Interest paid during the years ended December 31, 2013 and 2012 were approximately RMB 1,702,000 and RMB 1,574,000 respectively.