v2.4.0.6
INCOME TAXES (Tables)
 3 Months Ended
Jun. 30, 2012
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
(a) Income tax benefits (expenses) are comprised of the following:

 

    Three months ended
June 30,		  
    2012     2011  
    US$’000     US$’000  
             
Current taxes arising in the PRC:                
Corporate income tax     -       (35 )
                 
Deferred taxes arising in the PRC:                
Benefit of tax loss recognized     -       484  
                 
      -       449  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
(b) Reconciliation from the expected income tax (benefit) expenses calculated with reference to the statutory tax rate in the PRC of 25% (2011: 25%) is as follows:

 

    Three months ended
 June 30,		  
    2012     2011  
    US$’000     US$’000  
             
Expected income tax expenses     (2,621 )     (736 )
Effect on tax incentives / holiday     486       322  
Unrecognized tax losses and temporary difference     1,865       -  
Non-taxable income     -       (70 )
Others     270       35  
                 
Income tax (benefit) expenses     -       (449 )
Schedule Of Deferred Tax Liabilities [Table Text Block]
(c) Components of deferred tax liabilities were as follows:

 

    As of
 June 30,		     As of
 March 31,		  
    2012     2012  
    US$’000     US$’000  
                 
Withholding tax on undistributed earnings of a PRC subsidiary     460       460  
Schedule Of Deferred Tax Assets [Table Text Block]
(d) Components of deferred tax assets were as follows:

 

    As of
 June 30,		     As of
 March 31,		  
    2012     2012  
    US$’000     US$’000  
             
Depreciation and impairment     18       1,036  
Provisions and accruals     143       623  
Tax losses carried forward     6,643       3,280  
                 
      6,804       4,939  
Valuation allowance     (6,804 )     (4,939 )
                 
Net deferred tax assets     -       -