Leases

12 Months Ended

Mar. 31, 2026

13. LEASES

Operating leases

The Group leases offices from a third party. As the lease does not provide an implicit rate, the Group used an incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Group’s lease agreement does not contain any material guarantees or restrictive covenants. The Group does not have any sublease activities.

Operating leases result in the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. ROU assets represent the Group’s right to use the leased asset for the lease term, and lease liabilities represent the obligation to make lease payments. The operating lease expenses were charged to administrative expenses.

A summary of supplemental information related to the Group’s leases as of March 31, 2026 and 2025 was as follows:

	For the year ended			For the year ended
	March 31, 2026			March 31, 2025
	US$’000			US$’000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cashflows used in operating lease – Lease expenses		392			222
Interest on lease liabilities		25			19

Operating lease right-of-use assets, net		211			567

Operating lease liabilities, current		211			373
Operating lease liabilities, non-current		-			193
Weighted average remaining lease terms – operating lease		5 months			18 months
Weighted average discount rate – operating lease		5.25% -5.63	%		5.63	%

The maturity analysis of the annual undiscounted cash flows for the operating lease, as of March 31, 2026 and March 31, 2025 were as follows:

	As of
	March 31, 2026			March 31, 2025
	US$’000			US$’000
Within 1 year		214			395
More than 1 year but less than 2 years		-			198
Total undiscounted lease payments		214			593
less: imputed interest		(3	)		(27	)
Total lease liabilities		211			566