Income Tax Expenses (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Current tax expense (income) and adjustments for current tax of prior periods [abstract] |
|
| Summary of Amounts Recognized in Profit or Loss |
i)Amounts recognized in profit or loss
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Successor |
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Successor |
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Successor |
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Predecessor |
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|
For the
year ended
March 31,
2026 |
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|
For the
year ended
March 31,
2025 |
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For the period
June 16, 2023
through
March 31,
2024 |
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|
For the period
April 1
through
June 15,
2023 |
|
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|
US$’000 |
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|
US$’000 |
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|
US$’000 |
|
|
US$’000 |
|
Current Tax Expense |
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|
|
|
|
|
|
|
|
Current period |
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|
8,301 |
|
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|
12,118 |
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|
7,382 |
|
|
|
657 |
|
(Over)/under provision in respect of prior year |
|
|
(3,876 |
) |
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|
902 |
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|
133 |
|
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|
— |
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Deferred tax expense |
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|
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Origination and reversal of temporary difference |
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|
92 |
|
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|
169 |
|
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|
1,198 |
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|
|
— |
|
Over provision in respect of prior year |
|
|
— |
|
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|
— |
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|
(1,289 |
) |
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— |
|
Income tax expenses |
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4,517 |
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|
13,189 |
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|
7,424 |
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|
657 |
|
|
| Summary of Reconciliation of Effective Tax Rate |
ii)Reconciliation of effective tax rate
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Successor |
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|
Successor |
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|
Predecessor |
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|
Predecessor |
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|
For the
year ended
March 31,
2026 |
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|
For the
year ended
March 31,
2025 |
|
|
For the period
June 16, 2023
through
March 31,
2024 |
|
|
For the period
April 1
through
June 15,
2023 |
|
|
|
% |
|
|
US$’000 |
|
|
% |
|
|
US$’000 |
|
|
% |
|
|
US$’000 |
|
|
% |
|
|
US$’000 |
|
Profit before tax |
|
|
|
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|
38,395 |
|
|
|
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|
60,166 |
|
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|
89,512 |
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|
3,032 |
|
Computed tax expense with Singapore
statutory tax rate |
|
|
17.00 |
% |
|
|
6,527 |
|
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|
17.00 |
% |
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|
10,228 |
|
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|
17.00 |
% |
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|
15,218 |
|
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|
17.00 |
% |
|
|
515 |
|
Impact of different tax rate in other
jurisdiction* |
|
|
4.99 |
% |
|
|
1,914 |
|
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|
3.67 |
% |
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|
2,209 |
|
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|
(7.67 |
)% |
|
|
(6,865 |
) |
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|
3.59 |
% |
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|
109 |
|
Tax effect of unrecognized loss |
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|
— |
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— |
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|
— |
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— |
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|
— |
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|
— |
|
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|
— |
|
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|
— |
|
Tax adjustment of previous years |
|
|
(10.10 |
)% |
|
|
(3,876 |
) |
|
|
1.50 |
% |
|
|
902 |
|
|
|
(1.29 |
)% |
|
|
(1,156 |
) |
|
|
— |
|
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|
— |
|
Income not subject to tax |
|
|
— |
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— |
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|
(0.30 |
)% |
|
|
(179 |
) |
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|
(0.20 |
)% |
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|
(181 |
) |
|
|
— |
|
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|
— |
|
Non-deductible expenses |
|
|
0.13 |
% |
|
|
50 |
|
|
|
0.17 |
% |
|
|
101 |
|
|
|
0.52 |
% |
|
|
468 |
|
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|
1.45 |
% |
|
|
44 |
|
Deferred tax assets not recognized |
|
|
0.01 |
% |
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|
5 |
|
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|
(0.01 |
)% |
|
|
(6 |
) |
|
|
0.02 |
% |
|
|
17 |
|
|
|
— |
|
|
|
— |
|
Others |
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|
(0.27 |
)% |
|
|
(103 |
) |
|
|
(0.11 |
)% |
|
|
(66 |
) |
|
|
(0.09 |
)% |
|
|
(77 |
) |
|
|
(0.36 |
)% |
|
|
(11 |
) |
Income tax expenses |
|
|
11.76 |
% |
|
|
4,517 |
|
|
|
21.92 |
% |
|
|
13,189 |
|
|
|
8.29 |
% |
|
|
7,424 |
|
|
|
21.68 |
% |
|
|
657 |
|
* The tax effect of the bargain purchase gain of $49.4 million recognized for the successor period from June 16, 2023 through March 31, 2024, which was effectively nil as the gain was taxable at 0% tax rate under the Cayman Islands, is recognized under the “impact of different tax rate in other jurisdictions”.
|
| Summary of Deferred Tax Assets and Liabilities |
iii)Deferred tax assets and liabilities
|
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Successor |
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|
Successor |
|
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|
As of
March 31,
2026 |
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As of
March 31,
2025 |
|
|
|
US$’000 |
|
|
US$’000 |
|
Deferred tax assets |
|
|
|
|
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|
Property, plant and equipment |
|
|
323 |
|
|
|
457 |
|
Provisions |
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|
457 |
|
|
|
70 |
|
Employee benefits |
|
|
— |
|
|
|
526 |
|
Inventories |
|
|
— |
|
|
|
416 |
|
Lease liabilities |
|
|
1,187 |
|
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|
1,367 |
|
Other items |
|
|
158 |
|
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|
102 |
|
Deferred tax assets |
|
|
2,125 |
|
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|
2,938 |
|
|
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|
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Deferred tax liabilities |
|
|
|
|
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|
Right-of-use assets |
|
|
1,321 |
|
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|
1,526 |
|
Revaluation of assets in connection to MBO |
|
|
1,969 |
|
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|
2,484 |
|
Other items |
|
|
206 |
|
|
|
207 |
|
Deferred tax liabilities |
|
|
3,496 |
|
|
|
4,217 |
|
|
| Summary of Movement In Deferred Tax Balances. |
iv)Movement in deferred tax balances
|
|
|
|
|
|
|
|
|
|
|
Movement in
deferred tax
liabilities |
|
|
Movement in
deferred tax
assets |
|
|
|
US$’000 |
|
|
US$’000 |
|
Successor |
|
|
|
|
|
|
Balance at June 16, 2023 |
|
|
4,432 |
|
|
|
3,237 |
|
Recognized in profit or loss |
|
|
(775 |
) |
|
|
(603 |
) |
Effect of movement in exchange rates |
|
|
27 |
|
|
|
(60 |
) |
Balance at March 31, 2024 |
|
|
3,684 |
|
|
|
2,574 |
|
Recognized in profit or loss |
|
|
533 |
|
|
|
364 |
|
Balance at March 31, 2025 |
|
|
4,217 |
|
|
|
2,938 |
|
Recognized in profit or loss |
|
|
(721 |
) |
|
|
(813 |
) |
Balance at March 31, 2026 |
|
|
3,496 |
|
|
|
2,125 |
|
|
|
|
|
|
|
|
|
|
|
|
Movement in
deferred tax
liabilities |
|
|
Movement in
deferred tax
assets |
|
|
|
US$’000 |
|
|
US$’000 |
|
Predecessor |
|
|
|
|
|
|
Balance at April 1, 2023 and June 15, 2023 |
|
|
1,251 |
|
|
|
3,237 |
|
|