Bank Loans |
12 Months Ended |
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Jun. 30, 2026 | |
| Bank Loans [Abstract] | |
| BANK LOANS | NOTE 10 – BANK LOANS
Bank loans as of June 30, 2026 and 2025 amounted to $30,289,459 and $30,217,329, respectively. Bank loans consisted of several bank loans denominated in RMB, HKD and Singapore dollar (“SGD”).
On September 16, 2025, the Company entered into a credit facility agreement with Taipei Fubon Bank for HKD54,000,000, secured by the office building in Hong Kong as collateral. On the same date, the Company obtained a further financing facility of HKD21,000,000, secured by its office building in Singapore (Note 5).
As of June 30, 2026 the Company had total financing credit facilities of $50,830,780 of which the unused amount was $20,541,321.
The effective weighted average interest rates were 3.091%, 2.856% and 2.950% for the years ended June 30, 2026, 2025 and 2024, respectively.
One of the loan agreements contained certain financial covenants. The Company was in compliance with all covenants as of June 30, 2026.
As of June 30, 2026, all loan principals will be due within 1 year. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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