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Bank borrowings

12 Months Ended

Dec. 31, 2022

ZHEJIANG TIANLAN

Bank borrowings

12. Bank borrowings

		December 31,
		2022				2021
		RMB’000				RMB’000
Bank loans borrowed by the Company (note i)			501				8,511
Bank loans borrowed by subsidiaries of the Company (note ii)			5,007				5,007
			5,508				13,518

	(i)	The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by the Company as of December 31, 2022 bears interest at fixed rates of 3.85% (2021: 4.35% to 5%) per annum. Interest paid during the year ended December 31, 2022 was approximately RMB408,000 (2021: RMB253,000 and 2020: RMB1,377,000).
	(ii)	The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by subsidiaries of the Company as of December 31, 2022, bears interest at a fixed rate of 4.85 % (2021: a fixed rate ranging from 4.35% to 5%) 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, 2022 was approximately RMB218,000 (2021: RMB427,000 and 2020: RMB287,000).

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- Definition

The entire disclosure for borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC's uniform net capital rule, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

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