Page 55 - ar2012

TEHO INTERNATIONAL INC LTD Annual Report 2012 53
Notes to the
Financial Statements
30 June 2012
24. Other Financial Liabilities
Group
2012
$
2011
$
Non-current:
Bank Loans (secured) (Note 24A) 3,032,046 1,463,770
Bank Loans (unsecured) (Note 24A) – 966,647
Financial Leases (Note 24C) 442,717 –
3,474,763 2,430,417
Current:
Bank Loans (secured) (Note 24A) 1,839,093 150,751
Bank Loans (unsecured) (Note 24A) – 1,390,976
Trust Receipts (secured) (Note 24B) 8,491,027 8,207,502
Financial Leases (Note 24C) 152,026 –
10,482,146 9,749,229
Total 13,956,909 12,179,646
The ranges of foating interest rates per annum paid were as follows:
Group
2012
$
2011
$
SAF Loan 2.32% 2.32%
Trust receipts and bills payable 1.40% - 2.31% 1.58% - 3.74%
The ranges of fxed interest rates per annum paid were as follows:
Group
2012 2011
Bridging Loan 5.00% 5.00%
Term loan 1 4.50% 4.50%
Term loan 2 and 3 1.68% –
24. Other Financial Liabilities (Continued)
24A. Bank Loans
Group
2012
$
2011
$
Bridging Loan – 1,457,623
SAF Loan – 900,000
Term loan 1 – 1,614,521
Term loan 2 and 3 3,807,864 –
Money Market Loan 1,000,000 –
Bank loan 63,275 –
4,871,139 3,972,144
Due within 1 year 1,839,093 1,541,727
Due within 2 to 5 years 3,032,046 1,642,160
Due after 5 years – 788,257
4,871,139 3,972,144
The agreements for certain of the bank loans, overdrafts and other credit facilities require
the company to comply with certain fnancial covenants which include (a) the tangible
net worth of not less than $16,000,000 at all times, (b) the total liabilities to tangible net
worth of not more than 175% at all times and (c) total bank debts to tangible net worth
of not more than 150% at all times.
Bridging Loan - The loan was covered by corporate guarantee by the parent
company of $2,000,000. The loan was repayable over
48 monthly instalments of approximately $46,059 each
commencing one month from date of frst drawdown. The loan
was drawdown in April 2010.
SAF Loan - The loan was covered by corporate guarantee by the parent
company. The loan was repayable by 6 quarterly instalments
from June 2010, $400,000 for the frst fve repayments and
$500,000 for the last repayment.