18.
RELATED PARTY TRANSACTIONS AND BALANCES
The
Group had the following transactions with related parties:
(A)
Key management personnel remuneration
The
remuneration for key management personnel of the Group, representing the Group’s directors and executive officers is as follows:
| | |
For the fiscal
years ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | | |
2024 | |
| | |
US$’000 | | |
US$’000 | | |
US$’000 | |
| Key management
personnel remuneration | |
| 585 | | |
| 483 | | |
| 269 | |
(B)
Related party transactions
| | | | For the fiscal years ended | | | | | | March 31, | | | | | | 2026 | | | 2025 | | | 2024 | | | | | | US$’000 | | | US$’000 | | | US$’000 | | | (I) | Transaction with a shareholder | | | | | | | | | | | (a) | grant of a loan due to a shareholder | | | 3,491 | | | | 5,314 | | | | - | | | (b) | repayment of a loan due to a shareholder | | | (2,888 | ) | | | (6,362 | ) | | | - | | | (c) | interest expense on a loan due to a shareholder | | | 298 | | | | 351 | | | | - | | | | | | | | | | | | | | | | | | (II) | Transactions with a related company in which a former director of a subsidiary of the Company was a former director | | | | | | | | | | | | | | (a) | the lease of office area under lease expenses | | | - | | | | - | | | | 53 | | | (b) | the charge of building and management fee in relation to the lease of office area as mentioned above in (a) | | | - | | | | - | | | | 7 | | | (c) | the recharge of payroll for the secondment of staff personnel | | | - | | | | - | | | | 28 | | | (d) | grant of a loan due to a related company | | | - | | | | - | | | | 6,105 | | | (e) | repayment of a loan due to a related company | | | - | | | | - | | | | (1,308 | ) | | (f) | interest expense on a loan due to a related company | | | - | | | | - | | | | 312 | | | (g) | provision of guarantee on bank borrowings, limited up to | | | - | | | | - | | | | unlimited | | (C) Outstanding
balances with related parties
| | |
| |
As
of | |
| | |
Notes | |
March
31,
2026 | | |
March
31,
2025 | |
| | |
| |
US$’000 | | |
US$’000 | |
| Under current liabilities | |
| |
| | |
| |
| Amount due
to a shareholder | |
(a) | |
| (9 | ) | |
| (2 | ) |
| | |
| |
| | | |
| | |
| Under
non-current liabilities | |
| |
| | | |
| | |
| Loan due to a shareholder | |
(b) | |
| (22,310 | ) | |
| (21,567 | ) |
Notes:
| (a) | The amount due to a shareholder represents the miscellaneous expenses paid on behalf of the Group, and is non-secured, interest-free and repayable on demand. |
| (b) | The loan due to a shareholder is non-secured, bearing interest at HIBOR, subject to a cap of 1.5% per annum, and the repayment date of this loan was extended to June 30, 2028. |
|