v3.26.1
BANK BORROWING
 12 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
BANK BORROWING

10. BANK BORROWING

 

Bank borrowing was analyzed as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
Bank borrowing – guaranteed and repayable on demand  $154,972   $156,170 

 

On March 30, 2021, the Group borrowed non-revolving loan with a bank under the SME Financing Guarantee Scheme (“SME scheme”). The Group has consistently complied with all loan terms, ensuring timely repayments as per the agreed schedule. While management assesses the likelihood of repayment on demands as remote, the existence of these clauses necessitates classifying the associated loans as current liabilities in the consolidated financial statements as of March 31, 2026 and 2025.

 

Maturities of the bank borrowing based on repayment schedule, were as follows:

   2026   2025 
   As of March 31, 
   2026   2025 
Carrying amount:          
Within one year  $21,855   $21,977 
Between one and two years   133,117    134,193 
           
 Total carrying amount  $154,972   $156,170 

 

The bank borrowing is classified as current liabilities as there is a repayment on demand clause on the bank borrowing.

 

Bank borrowing as of March 31, 2026 and 2025 was as follows:

 

      Maturity    

Weighted average interest

rate as of March 31,

  

Balance as of

March 31,

 
Lender  Type  date  Currency  2026   2025   2026   2025 
                          
Standard Chartered Bank (Hong Kong) Limited  Non-revolving loan  March 17, 2027  HK$   2.80%   2.80%  $154,972   $156,170 

 

 

During the years ended March 31, 2026, 2025 and 2024, the bank borrowing amounted to $nil, $107,600 and $124,337, respectively, were repaid.

 

For the years ended March 31, 2026, 2025 and 2024, the bank loan interest expenses were amounted to $4,331, $6,857 and $2,333, respectively.

 

Note:

 

(1) The banking facility was guaranteed as follows:

 

  (a) The banking facility was guaranteed by HKMC Insurance Limited (“HKMC”) under the SME scheme; and
  (b) Personal guaranteed provided by a director of the Company, Dixon Chan.

 

 

GREENVECTOR HOLDINGS LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS