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LINES OF CREDIT
 12 Months Ended
Jun. 30, 2020
Line of Credit Facility [Abstract]  
LINES OF CREDIT

The carrying value of the Company’s lines of credit approximates its fair value, because the interest rates associated with the lines of credit are adjustable in accordance with market situations when the Company borrowed funds with similar terms and remaining maturities.

 

The Company’s credit rating provides it with readily and adequate access to funds in global markets.

 

As of June 30, 2020, the Company had certain lines of credit that are collateralized by restricted deposits.

 

Entity with  Type of  Interest  Expiration  Credit  Unused
  Facility  Rate  Date  Limitation  Credit
Trio-Tech International Pte. Ltd., Singapore  Lines of Credit  Ranging from 1.85% to 5.5%, SIBOR rate +1.25% and LIBOR rate +1.30%   —     $4,806   $4,806 
Universal (Far East) Pte. Ltd.  Lines of Credit  Ranging from 1.85% to 5.5%   —     $359   $187 
Trio-Tech Malaysia Sdn. Bhd.  Revolving Credit  Cost of Funds Rate +2%   —     $350   $350 

  

On November 18, 2019, Trio-Tech International Pte. Ltd. signed an agreement with JECC Leasing (Singapore) Pte. Ltd. for an Account Receivables Financing facility for SGD 1,000, or approximately $742 based on the market exchange rate. Interest is charged at LIBOR rate +1.3% for USD financing and SIBOR rate +1.25% for SGD financing. The financing facility was set up to facilitate the working capital in our operations in Singapore. The Company started to use this facility in the second quarter of fiscal year 2020.

 

As of June 30, 2019, the Company had certain lines of credit that are collateralized by restricted deposits.

 

Entity with  Type of  Interest  Expiration  Credit  Unused
  Facility  Rate  Date  Limitation  Credit
Trio-Tech International Pte. Ltd., Singapore  Lines of Credit  Ranging from 1.85% to 5.5%   —   $4,213   $4,213 
Trio-Tech (Tianjin) Co., Ltd.  Lines of Credit  5.22% to 6.3%   —   $1,492   $ 1,492 
Universal (Far East) Pte. Ltd.  Lines of Credit  Ranging from 1.85% to 5.5%   —   $370   $183 
Trio-Tech Malaysia Sdn. Bhd.  Revolving Credit  Cost of Funds Rate +2%   —   $363   $363