v3.26.1
Revenue and Cost of Revenue (Tables)
 12 Months Ended
Mar. 31, 2026
Revenue and Cost of Revenue [Abstract]  
Schedule of Revenue and Cost of Revenue
   2026   2025   2024 
   US$’000   %   US$’000   %   US$’000   % 
Revenue (Note (a))                        
Public Sector                        
– Infrastructure and public facilities   28,312    57.4%   6,197    11.6%   21,164    33.3%
– Residential   20,464    41.5%   39,686    74.6%   32,234    50.8%
Sub-total   48,776    98.8%   45,883    86.2%   53,398    84.1%
                               
Private Sector                              
– Commercial/industrial (Note (b))   582    1.2%   2,233    4.2%   4,045    6.4%
– Residential   -    0.0%   5,089    9.6%   6,020    9.5%
Sub-total   582    1.2%   7,322    13.8%   10,065    15.9%
                               
Total   49,358    100.0%   53,205    100.0%   63,463    100.0%

  

   2026   2025   2024 
   US$’000   %   US$’000   %   US$’000   % 
Cost of revenue                        
Public Sector                        
– Infrastructure and public facilities   25,695    45.5%   5,428    11.0%   19,360    32.8%
– Residential   27,903    49.4%   35,398    71.8%   30,399    51.5%
Sub-total   53,598    94.9%   40,826    82.8%   49,759    84.3%
                               
Private Sector                              
– Commercial/industrial   664    1.2%   3,040    6.2%   3,701    6.3%
– Residential   2,213    3.9%   5,423    11.0%   5,560    9.4%
Sub-total   2,877    5.1%   8,463    17.2%   9,261    15.7%
                               
Total   56,475    100.0%   49,289    100.0%   59,020    100.0%

 

   2026   2025   2024 
   US$’000   GP%   US$’000   GP%   US$’000   GP% 
Gross profit                        
Public Sector                        
– Infrastructure and public facilities   2,617    9.2%   769    12.4%   1,804    8.5%
– Residential   (7,439)   (36.4)%   4,288    10.8%   1,835    5.7%
Sub-total   (4,822)   (9.9)%   5,057    11.0%   3,639    6.8%
                               
Private Sector                              
– Commercial/industrial   (82)   (14.1)%   (807)   (36.1)%   344    8.5%
– Residential   (2,213)   (100.0)%   (334)   (6.6)%   460    7.6%
Sub-total (Note (b))   (2,295)   (394.3)%   (1,141)   (15.6)%   804    8.0%
                               
Total   (7,117)   (14.4)%   3,916    7.4%   4,443    7.0%
(a)Revenue from the provision of construction services is recognized over time, using an input method to measure progress towards complete satisfaction of the service, because the Group’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced. The input method recognizes revenue based on the proportion of the actual costs incurred relative to the estimated total costs for the satisfaction of the construction services. A certain percentage of payments is retained by customers until the end of the retention period, as the Group’s entitlement to the final payment is conditional on the satisfaction of the service quality by the customers over a certain period, as stipulated in the contracts.

 

(b)Gross profit for the public sector and private sector was negative US$4.82 million and negative US$2.29 million, respectively, for the year ended March 31, 2026 compared to US$5.06 million and negative US$1.14 million respectively, negative gross profit was primarily due to cost overruns and final account adjustments on certain legacy projects. These contracts have been substantially completed, and no provision for future contract losses is required as of March 31, 2026.