v3.26.1
Finance Lease Liabilities
12 Months Ended
Mar. 31, 2026
Finance Lease Liabilities [Abstract]  
FINANCE LEASE LIABILITIES

Note 18 — FINANCE LEASE LIABILITIES

 

The Company has entered into various non-cancellable finance lease agreements for certain Company’s vehicles. The Company determines if an arrangement is a lease, or contains a lease, at inception and record the leases in the financial statements upon lease commencement, which is the date when the underlying asset is made available for use by the lessor.

 

Finance leases are included in property, plant and equipment and current and non-current finance lease liabilities on the consolidated balance sheets.

 

Future finance lease payments as of March 31, 2025 and 2026, are detailed as follows:

 

    As of March 31,  
    2025     2026     2026  
Finance leases   S$     S$     US$  
2026     238,473              
2027     200,085       243,228       188,538  
2028     182,094       225,198       174,562  
2029     128,072       172,034       133,352  
2030     68,013       109,277       84,706  
2031    

      103,110       79,926  
Thereafter     75,113       78,043       60,495  
Total future lease payment     891,850       930,890       721,579  
Less: Imputed interest     (99,020 )     (97,362 )     (75,470 )
Present value of finance lease liabilities     792,830       833,528       646,109  
Less: Current portion     (199,320 )     (206,352 )     (159,954 )
Long-term portion of finance lease liabilities     593,510       627,176       486,155  

 

The following table shows the weighted-average lease terms and discount rates for operating leases and finance leases:

 

    2025     2026  
Weighted average remaining lease term (Years)            
Finance leases     3       3  
                 
Weighted average discount rate                
Finance leases     4 %     4 %

 

The components of the finance lease cost are as follows:

 

    For the years ended 31 March,  
    2024     2025     2026     2026  
    S$     S$     S$     US$  
Finance lease cost:                        
Depreciation of property, plant and equipment     219,170       270,036       322,117       249,684  
Interest on finance lease (Included in interest expense)     80,461       39,858       44,666       34,623  
      299,631       309,894       366,783       284,307