v3.26.1
Leases
 12 Months Ended
Mar. 31, 2026
Leases [Abstract]  
LEASES

6. Leases

 

The Company leases office, dormitory, warehouse and car parking spaces for varying periods in Hong Kong and Vietnam. As the majority of the leases do not provide an implicit rate, the Company used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s lease agreements do not contain any material guarantees or restrictive covenants. The Company does not have any sublease activities. Short-term leases, defined as leases with initial term of 12 months or less, are not recorded on the Consolidated Balance Sheets. The most significant assets in the Company’s leasing portfolio relate to real estate. For purposes of calculating lease liabilities for such leases, the Company have combined lease and non-lease components.

 

The Company’s rights-of-use assets and lease liabilities recognized in the Consolidated Balances Sheets consist of the following:

 

    As of
March 31,		  
    2025     2026  
    USD     USD  
Rights-of-use assets – operating lease     983,097       1,213,030  
Operating lease liabilities – current     405,146       466,439  
Operating lease liabilities – non-current     615,366       776,854  
      1,020,512       1,243,293  

 

The component of lease expenses are as follows:

 

    As of
March 31,		  
    2024     2025     2026  
    USD     USD     USD  
Operating lease expense     374,956       454,275       668,687  

 

Other information about the Company’s leases is as follows:

 

    As of
March 31,		  
    2024     2025     2026  
    USD     USD     USD  
Cash paid for amount included in the measurement of lease liabilities:                  
Operating cash flows used in operating leases     379,510       414,715       672,426  
Right-of-use assets obtained in exchange for new operating lease liabilities     -       1,338,939       857,403  
Weighted-average remaining lease term     0.58 years       3.31 years       2.62 years  
Weighted-average discount rate     4.26 %     8.49 %     6.35 %

 

The following is a maturity analysis of the annual undiscounted cash flows for lease liabilities as of March 31, 2025:

 

    Total  
    USD  
Years ending March 31,      
2026     478,262  
2027     239,349  
2028     209,185  
2029     209,185  
2030 and thereafter     52,296  
Total undiscounted lease payments     1,188,277  
Less: imputed interest     (167,765 )
Lease liabilities recognized in the Consolidated Balance Sheet     1,020,512  

 

The following is a maturity analysis of the annual undiscounted cash flows for lease liabilities as of March 31, 2026:

 

    Total  
    USD  
Years ending March 31,      
2027     532,453  
2028     501,532  
2029     271,521  
2030     50,770  
2031 and thereafter     -  
Total undiscounted lease payments     1,356,276  
Less: imputed interest     (112,983 )
Lease liabilities recognized in the Consolidated Balance Sheet     1,243,293