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EXTRAORDINARY ITEMS | 12 Months Ended
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Mar. 31, 2012
Extraordinary and Unusual Items [Abstract] |
Extraordinary Items Disclosure [Text Block] |
18. | EXTRAORDINARY ITEMS
| (a) | Extraordinary gain
During the year ended March 31, 2012, Zhejiang Chisen had completed the relocation of production plant in Jingyi Road. Pursuant to the Compensation Agreement on Relocation and Acquisition entered into between Zhejiang Chisen and Administrative Committee of Changxing Economic Development Zone (“ACC”), ACC shall pay Zhejiang Chisen a compensation in the amount of RMB98,514,000 (US$15,354,000) for the loss on long-term land lease prepayment and buildings in Jingyi Road. In May 2011, the Company wrote off the long-term land lease prepayment and buildings with net book value of approximately RMB14,354,000 (US$2,237,000) and therefore net compensation income of RMB84,160,000 (US$13,117,000) was recognized as an extraordinary gain during the year. As of March 31, 2012, the compensation of US$1,692,000 has not been received and was recorded as other receivable in current assets in the consolidated balance sheet.
| (b) | Extraordinary loss
In May 2011, and without advance notice to the Company, the PRC Central Government tightened its environment protection policy which applies to all lead-acid battery manufacturers. Pursuant to the newly tightened policy, a 500 meters quarantined isolated area must be maintained between production facilities, including assembly facilities, and residential areas. The Company’s Jing’er Road plant was mainly utilized for assembly activities and it cannot comply with the tightened policy. Management had gradually scaled down the operation of Jing’er Road plant and the Company had completed the relocation of certain production facilities to the plant in Xuyi County, Jiangsu Province during the year ended March 31, 2012. After evaluating the plant and machinery at Jing’er Road plant, some of them cannot fit into the plant in Jiangsu Xuyi. The Company decided to impair the value of plant and machinery as well as leasehold improvement of Jing’er Road plant down to its recoverable amount. The impairment loss was recorded as follows:
|  | Years ended March 31, |
|  | 2012 |  |  | 2011 |
|  | US$’000 |  |  | US$’000 |
Leasehold improvement |  |  | 921 |  |  |  | - |
Plant and machinery |  |  | 927 |  |  |  | - |
|  |  | 1,848 |  |  |  | - |
The management considered that this government behavior is very unusual and rare to happen, and thus the relevant impairment loss of plant and machinery was classified as an extraordinary item.

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- Definition The entire disclosure for extraordinary items. This may include information related to the determination or classification of an event or transaction meeting the criteria for unusual in nature and infrequent in occurrence. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 30 -Paragraph 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6904752&loc=d3e14571-107780 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 45 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6904752&loc=d3e14528-107780 + Details
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