Information
about leases for which the Group is lessees are presented below:
Schedule
of right of use assets
| | |
Office premises | |
| | |
USD | |
| Cost | |
| | |
| As at 1 April 2022 | |
| 1,229,314 | |
| Exchange difference | |
| (58,724 | ) |
| | |
| | |
| As at 31 March 2023/1 April 2023 | |
| 1,170,590 | |
| Right of use assets at cost | |
| 1,170,590 | |
| Additions | |
| 447,201 | |
| Derecognition arising from lease termination | |
| (138,528 | ) |
| Exchange difference | |
| (82,533 | ) |
| | |
| | |
| As at 31 March 2024 | |
| 1,396,730 | |
| Right of use assets at cost | |
| 1,396,730 | |
| | |
| | |
| Accumulated amortisation | |
| | |
| As at 1 April 2022 | |
| 392,269 | |
| Charge for the financial year | |
| 326,992 | |
| Exchange difference | |
| (16,186 | ) |
| | |
| | |
| As at 31 March 2023/1 April 2023 | |
| 703,075 | |
| Right of use assets accumulated amortization | |
| 703,075 | |
| Charge for the financial year | |
| 403,019 | |
| Derecognition arising from lease termination | |
| (138,528 | ) |
| Exchange difference | |
| (50,959 | ) |
| | |
| | |
| As at 31 March 2024 | |
| 916,607 | |
| Right of use assets accumulated amortization | |
| 916,607 | |
| | |
| | |
| Carrying amount | |
| | |
| | |
| | |
| As at 31 March 2023 | |
| 467,515 | |
| | |
| | |
| As at 31 March 2024 | |
| 480,123 | |
| Right of use assets, carrying amount | |
| 480,123 | |
The
Group leases office premises for 3 years that which has options to extend the lease term for another 3 years upon lease expired. These
options are negotiated by management to provide flexibility in managing the leased-asset portfolio and to align with the Group’s
business needs. The Group had performed an assessment at lease commencement whether it is reasonably certain to exercise the extension
options.
|