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

6. BANK LOANS

 

The Company has two outstanding loan facilities with its principal bank, with total drawn-down principal amount of approximately US$1,078,941. The bank facility bears interest rate at Hong Kong Prime Rate minus 2.5% per annum.

 

The bank loans consisted of the following at March 31, 2026:

 

Bank Name 

Principal

Amount

 

Amount –

HKD

   

Amount –

USD

  

Issuance

Date

   

Expiration

Date

   Interest
Standard Chartered Bank (Hong Kong) Limited  HKD4,574,286  3,564,728   457,017   2022-09-08   2033-09-08   Hong Kong Prime Rate – 2.5%
Standard Chartered Bank (Hong Kong) Limited  HKD3,841,452  3,080,899   394,987   2022-12-06   2033-12-06   Hong Kong Prime Rate – 2.5%
Total     6,645,627   852,004            

 

The bank loans consisted of the following at March 31, 2025:

 

Bank Name 

Principal

Amount

 

Amount –

HKD

  

Amount –

USD

  

Issuance

Date

 

Expiration

Date

  Interest
Standard Chartered Bank (Hong Kong) Limited  HKD4,574,286   3,984,348    510,814   2022-09-08  2033-09-08  Hong Kong Prime Rate – 2.5%
Standard Chartered Bank (Hong Kong) Limited  HKD3,841,452   3,430,440    439,800   2022-12-06  2033-12-06  Hong Kong Prime Rate – 2.5%
Total      7,414,788    950,614          

 

The Company’s bank loans are denominated in HKD.

 

As of March 31, 2026 and 2025, the bank loans amounted to US$852,004 with interest bearing at 2.750%-2.875% per annum and US$950,614 with interest bearing at 2.875%-3.000% per annum. The loans are secured by personal guarantee executed by the director of the Company and a guarantee issued by HKMC Insurance Limited under the Hong Kong SME Financing Guarantee Scheme, a loan guarantee scheme launched by the Hong Kong government to help small and medium enterprises to secure bank loans, which the lending bank required.

 

The following are the maturities of the above borrowings, which include principal of bank borrowing as of March 31, 2026:

 

   Amount 
   USD 
Years ending March 31,     
2027   102,011 
2028   104,849 
2029   107,767 
2030   110,765 
2031 and thereafter   426,612 
Total Bank Borrowings   852,004 

 

During the year ended March 31, 2026, interest expense related to these credit facilities was US$26,291.

 

During the year ended March 31, 2025, interest expense related to these credit facilities was US$34,250.