76
TEHO INTERNATIONAL INC LTD.
Annual Report 2016
NOTES
TO THE FINANCIAL STATEMENTS
Year ended 30 June 2016
16 LOANSAND BORROWINGS (CONT’D)
Terms and debt repayment schedule
Terms and conditions of outstanding secured bank loans are as follows:
2016
2015
Nominal
Currency
interest rate
Year of maturity
Face value
Carrying amount
Face value Carrying amount
%
$
$
$
$
Group
Term loans U
SGD
2.55% to 4.73%
2020
6,000,000
5,050,000 20,000,000
16,120,361
Term loan E
SGD
6.00%
2020
2,000,000
1,486,038 2,000,000
1,846,693
Revolving credit facilities
SGD
2.22% to 3.77%
2016
12,000,000
12,000,000 10,000,000
10,000,000
Property development loans
SGD
2.43% to 3.65%
2016 - 2017
14,315,070
16,115,958 23,922,396
23,922,396
Property term loans
SGD
2.00% to 2.15%
2035 - 2037
3,560,000
3,365,522
3,560,000
3,495,296
37,875,070
38,017,518 59,482,396
55,384,746
The agreements for certain bank loans, overdrafts and other credit facilities require the subsidiaries to comply with certain financial 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.
