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13A. Short term bank loans | 12 Months Ended
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Dec. 31, 2015
ZHEJIANG JIAHUAN |
Short term borrowings | The short term loans as of December 31, 2015 bear interest at fixed rates ranging from 5.34% to 6.63% per annum with maturity dates from March 19, 2016 to December 16, 2016 and are secured by the Company’s buildings and land use right. Interest paid during the years ended December 31, 2015 and 2014 were approximately RMB 3,799,000 and RMB 2,209,000 respectively.
ZHEJIANG TIANLAN |
Short term borrowings |
|  | 2015 |  |  | 2014 |
|  | RMB’000 |  |  | RMB’000 |
Bank loan borrowed by the Company (note i) |  |  | 40,000 |  |  |  | 92,900 |
Bank loan borrowed by a subsidiary of the Company (note ii) |  |  | 5,000 |  |  |  | 5,000 |
|  |  | 45,000 |  |  |  | 97,900 |
(i) | The bank loan is denominated in Renminbi and repayable within 1 year. The bank loan borrowed by the Company as of December 31, 2015 bear interest at fixed rates 4.62% to 6.47% (2014: 5.88% to 6.90%) per annum. Interest paid during the year ended December 31, 2015 was approximately RMB3,768,000 (2014: RMB4,688,000 and 2013: RMB3,704,000).
(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, 2015 bear interest at fixed rates 7.50% (2014: 7.50%) 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, 2015 was approximately RMB369,000 (2014: RMB377,000).

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