| 8 |
TRADE AND OTHER RECEIVABLES |
| | |
Note | |
As of
31 March
2025 | | |
As of
31 March
2026 | |
| | |
| |
USD’000 | | |
USD’000 | |
| Trade receivables – third parties | |
(a) | |
| 7,833 | | |
| 6,296 | |
| Less: Impairment losses | |
| |
| (283 | ) | |
| (56 | ) |
| | |
| |
| 7,550 | | |
| 6,240 | |
| | |
| |
| | | |
| | |
| Other receivables – third parties | |
(b) | |
| 26 | | |
| 215 | |
| Deposits – third parties | |
| |
| 209 | | |
| 343 | |
| Prepayments – third parties | |
(c) | |
| 252 | | |
| 788 | |
| Advances to contract manufacturers – third parties | |
| |
| 2,369 | | |
| 4,439 | |
| | |
| |
| 2,856 | | |
| 5,785 | |
| | |
| |
| | | |
| | |
| Total trade and other receivables | |
| |
| 10,406 | | |
| 12,025 | |
| | |
| |
| | | |
| | |
| Movement in the above impairment losses: | |
| |
| | | |
| | |
| | |
| |
| | | |
| | |
| Beginning balances | |
| |
| 279 | | |
| 283 | |
| Charge /(reversal) for the financial year | |
| |
| 4 | | |
| (227 | ) |
| Ending balance | |
| |
| 283 | | |
| 56 | |
| | (a) | Trade receivables are non-interest bearing and the normal credit terms granted by the Company is 30 to 90 days (2025: 30 to 90 days). They are recognized at their original invoice amounts, which represent their fair values on initial recognition. |
| | (b) | Other receivables from third parties consist mainly of advances to contract manufacturers. The Company expected to be offset with contract manufacturers charges in the next 12 months. |
| | (c) | Prepayments from third parties consist mainly of the subscription of Enterprise Resource Planning (ERP) system and prepaid insurances. |
| |
(d) |
The ageing analysis of trade receivables of the Company are as follows: |
| | |
Expected
credit loss
rate (%) | | |
Gross | | |
Impairment
loss | | |
Net | |
| | |
| | |
USD’000 | | |
USD’000 | | |
USD’000 | |
| At 31 March 2025 | |
| | |
| | |
| | |
| |
| Current | |
| 4.73 | % | |
| 5,389 | | |
| (255 | ) | |
| 5,134 | |
| > 30 days past due | |
| — | % | |
| 1,079 | | |
| - | | |
| 1,079 | |
| > 60 days past due | |
| 0.58 | % | |
| 859 | | |
| (5 | ) | |
| 854 | |
| > 90 days past due | |
| 4.55 | % | |
| 506 | | |
| (23 | ) | |
| 483 | |
| Total | |
| 3.61 | % | |
| 7,833 | | |
| (283 | ) | |
| 7,550 | |
| | |
Expected
credit loss
rate (%) | | |
Gross | | |
Impairment
loss | | |
Net | |
| | |
| | |
USD’000 | | |
USD’000 | | |
USD’000 | |
| At 31 March 2026 | |
| | |
| | |
| | |
| |
| Current | |
| 1.00 | % | |
| 5,390 | | |
| (54 | ) | |
| 5,336 | |
| > 30 days past due | |
| — | % | |
| 185 | | |
| — | | |
| 185 | |
| > 60 days past due | |
| 1.16 | % | |
| 173 | | |
| (2 | ) | |
| 171 | |
| > 90 days past due | |
| — | % | |
| 548 | | |
| — | | |
| 548 | |
| Total | |
| 0.89 | % | |
| 6,296 | | |
| (56 | ) | |
| 6,240 | |
As part of the Company’s credit
risk management, the Company assesses the impairment for its customers based on different group of customers which share common risk characteristics
that are representative of the customers’ abilities to pay all amounts due in accordance with the contractual terms.
Loss allowance for trade receivables
has been measured at an amount equal to the lifetime ECL. The ECL on trade receivables are estimated using a provision matrix by
reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors
that are specific to the debtors, and where relevant general economic conditions of the industry in which the debtors operate.
As the Company’s historical credit
loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance
based on past due status is not further distinguished between the Company’s different customer base.
There has been no change in the estimation
techniques or significant assumptions made during the current reporting period. A trade receivable is written off when there is information
indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery.
Information of financial risks of the
trade and other receivables were disclosed in Note 28 to the financial statements.
|