LOANS FROM BANKS (HIRE PURCHASE INSTALLMENT LOANS) (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of the summary of loans from banks

	June 30, 2020		June 30, 2019
Loans from banks	$	—	$	193
Loans from banks(non-current)		—		—
Total	$	—	$	193

Schedule of hire purchase installment

	Interest Rate	Monthly Due		June 30, 2020		June 30, 2019
Financial institution in Malaysia	N/A*		—		—		—
Financial institution in Malaysia	N/A*		—		—		—
Financial institution in Malaysia	N/A*		207		—		194
Hire purchase loans payable to banks				$	—	$	194

________

(*) Hire purchase installment loans with Motor Vehicles as collateral. The financial institutions in Malaysia are Islamic banks and bear no interest in the installment agreement. However, there are certain imprest charges equivalent to interests which are being calculated at an average annual rate of approximate 0.42% for the rest of entire loans life and periods.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details