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Note 12 - Long-term Loans
6 Months Ended
Jun. 30, 2015
Notes  
Note 12 - Long-term Loans

Note 12 – Long-term Loans

 

On June 12, 2014, the Company’s subsidiary, ALC, entered into a loan agreement with Hitachi Credit (HK) Ltd in relation to the acquisition of a motor vehicle, which was pledged to secure the loan. The total amount of the loan obtained is $32,036, bearing annual interest rate of 2.28% for 48 months.

 

On June 22, 2015, the Company’s subsidiary, KIM, entered into a loan agreement with DBS Bank Ltd in relation to the acquisition of a new motor vehicle, which was pledged to secure the loan. The total amount of the loan obtained is $60,000, bearing annual interest rate of 2.28% for 60 months.

 

The principal of the loans due within one year is classified as current liability and included in “long-term loan, current” as of balance sheet date.