Operating Right-of-Use Assets and Lease Liabilities

12 Months Ended

Mar. 31, 2026

Operating Right-of-Use Assets and Lease Liabilities [Abstract]

OPERATING RIGHT-OF-USE ASSETS AND LEASE LIABILITIES

8. OPERATING RIGHT-OF-USE ASSETS AND LEASE LIABILITIES

The Company is a lessee of non-cancellable operating leases for corporate office in Hong Kong.

The Company’s operating right-of-use assets and operating lease liabilities recognized in the consolidated balance sheets consist of the following:

	As of March 31,
	2026			2025
	$’000			$’000
Cost		3,436			1,975
Less: accumulated depreciation		(1,018	)		(1,304	)
Operating lease right-of-use assets, net		2,418			671

	As of March 31,
	2026		2025
	$’000		$’000
Operating lease liabilities
Current portion		1,222		577
Non-current portion		1,232		83
Total		2,454		660

	As of March 31,
	2026			2025
Operating leases:
Weighted average remaining lease term (years)		2			1
Weighted average discount rate		5.22	%		5.79	%

During the years ended March 31, 2026, 2025 and 2024, the Company incurred lease expense of approximately $2,258,000, $712,000 and $257,000, respectively.

The maturity analysis of the Company’s non-cancelable operating lease obligations as of March 31, 2026 is as follows:

	Operating leases
	$’000
Year ending March 31, 2027		1,315
Year ending March 31, 2028		962
Year ending March 31, 2029		138
Year ending March 31, 2030		138
Year ending March 31, 2031		46
Total undiscounted operating lease obligations		2,599
Less: imputed interest		(145	)
Operating lease liabilities recognized in the consolidated balance sheets		2,454