On 30 June 2006, Salohcin Ltd entered into a non­ cancellable lease with Ffoeg Ltd, for a period of 4 years. The lessor is a Manufacturer/Dealer of the leased equipment. The leased asset is a specific item of industrial machinery (Portable Enamel Drying Room) with a fair value of $349,160. The equipment has a carrying value on the books of the lessor of $280,000. The equipment is expected to have an economic life of 5 years with an expected salvage value at the end of Year 5 of $50,000. The estimated residual value at the end of the lease term ... More