v3.26.1
TRADE RECEIVABLES, CONTRACT ASSETS, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENT
 12 Months Ended
Mar. 31, 2026
Trade Receivables Contract Assets Other Receivables Deposits And Prepayment  
TRADE RECEIVABLES, CONTRACT ASSETS, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENT

15 TRADE RECEIVABLES, CONTRACT ASSETS, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENT

 

15.1 Trade receivables, net

 

   At   At 
   March 31, 2026   March 31, 2025 
   USD   USD 
Trade receivables   3,398,783    1,394,545 
Less: loss allowance   (1,361,629)   - 
Total   2,037,154    1,394,545 

 

Trade receivables are non-interest bearing and generally have credit terms of 30 days.

 

An aging analysis of the trade receivables at the end of the reporting period, based on the invoice date and net of loss provision, is as follows:

 

   At   At 
   March 31, 2026   March 31, 2025 
   USD   USD 
Less than 1 month   643,813    1,219,953 
Between 1 month and 3 months   312,198    158,350 
Over 3 months   1,081,143    16,242 
Trade receivables, net   2,037,154    1,394,545 

 

The increment reflected the consolidation of corresponding trade receivables acquired from the completion of the three business acquisitions during the current year. For details, refer to note 27.

 

The movements in the loss allowance for impairment of trade receivables, measured at an amount equal to lifetime ECL, are as follows:

 

   At   At 
   March 31, 2026   March 31, 2025 
   USD   USD 
At the beginning of the year   -    4,632 
Acquired from acquisitions   

451,449

    

-

 
Provision for the year   

910,180

    - 
Written off for the year   -    (1,788)
Reversal for the year   

-

    (2,844)
At the end of the year   1,361,629    - 

 

During the year ended March 31, 2025, trade receivables of $12,064 (2024: $21,522) were written off due to uncollectible as assessed by management. The carrying amounts of trade receivables are approximate their fair values.

 

 

15.2 Contract Assets

 

   At   At 
   March 31, 2026   March 31, 2025 
   USD   USD 
Subscription revenue   46,160    750 
Data service revenue   107,924    - 
Contract Assets   154,084    750 

 

Contract assts relates to client contracts that have been complete, revenue recognized but yet to be invoiced. The increment reflected the consolidation of corresponding contract assets acquired from the completion of the three business acquisitions during the current year. For details, refer to note 27.

 

15.3 Other receivables, deposits and prepayment

 SCHEDULE OF PREPAYMENT, DEPOSITS AND OTHER RECEIVABLES

      At   At 
   Notes  March 31, 2026   March 31, 2025 
      USD   USD 
Current:             
Deposits  (a)   324,846    63,914 
Prepayments  (b)   809,704    351,791 
Deferred fund-raising costs  (c)   -    650,000 
Other receivables      49,183    486 
Prepayment, deposits and other receivables      1,183,733    1,066,191 
Non-current:             
Deposit  (a)   -    45,463 

 

(a)

Current deposits mainly comprised of deposits for lease of office spaces in different countries and deposit for investor relation services. Prior year current deposit also included amounts paid to an employment agency in Germany.

 

Prior year non-current deposit of $45,463 represents a deposit for a long-term lease of office space in Monaco.

   
(b)

The increase in prepayments as of March 31, 2026 primarily relates to the advance payment of the Directors and Officers (D&O) liability insurance premium, covering period from January 2025 to December 2026.

   
(c)

As of March 31, 2025, deferred fund-raising costs comprised payments of $400,000 under the Nomas MOU and $250,000 under the Al Noor MOU. This balance increased during the year by $150,000 due to an additional payment made under the Al Noor MOU in June 2025. Following an evaluation of the fundraising activities performed, management determined to expense the entire balance to profit or loss during the year.

 

15.4 Advance to Resulticks Global Companies Pte. Ltd, net

 

   At   At 
   March 31, 2026   March 31, 2025 
   USD   USD 
Advance to Resulticks Global Companies Pte. Ltd, gross   6,601,370    - 
Less: loss allowance   (279,112)   - 
Advance to related party, net   6,322,258    - 

 

During the year ended March 31, 2026, the Company disbursed $8 million to Resulticks and accrued $601,370 in interest income. Resulticks has repaid $2 million, and a provision for expected credit loss of $279,112 was recognized during the year. Subsequent to the year-end and up to the date of this report, Resulticks has made further repayments of $2 million. The outstanding balance plus accrued interest is due to be repaid in full by September 30, 2026.