Accounts Receivable, Net

12 Months Ended

Mar. 31, 2026

Accounts Receivable, Net [Abstract]

ACCOUNTS RECEIVABLE, NET

10. ACCOUNTS RECEIVABLE, NET

Accounts receivable, and the allowance for credit losses consisted of the following:

		As of
		March 31, 2026				March 31, 2025
		US$’000				US$’000
Accounts receivable			9,963				17,934
Less: Allowance for credit losses			(332	)			(232	)
Sub – total			9,631				17,702
Retention receivables			5,922				5,232
Total			15,553				22,934

The aging analysis of accounts receivable, net of allowance for credit losses, based on invoice date is as follows:

		As of
		March 31, 2026				March 31, 2025
		US$’000				US$’000
Within 90 days			11,183				14,369
91 to 180 days			324				48
181 to 365 days			1,505				4,007
Over 1 year			2,541				4,510
Total			15,553				22,934

Accounts receivable are past due when a counterparty has failed to make a payment when contractually due. Credit terms granted to customers vary from contract to contract. The credit period granted to customers is 0 to 60 days from payment certification date except for retention receivables.

The Group recognized allowance for expected credit losses on accounts receivable of approximately US$102,000 and approximately US$13,000, respectively, for the fiscal years ended March 31, 2026 and March 31, 2025.

Reconciliation of the allowance for credit losses of accounts receivable:

		US$’000
As of April 1, 2024			(1,893	)
Allowance for credit loss on accounts receivable for the year			(13	)
Write off			1,667
Exchange realignment			7
As of March 31, 2025			(232	)
Allowance for credit loss on accounts receivable for the year			(102	)
Exchange realignment			2
As of March 31, 2026			(332	)