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Income Tax Expenses | 12 Months Ended
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Mar. 31, 2025
Current tax expense (income) and adjustments for current tax of prior periods [abstract] |
Income Tax Expenses | 22. INCOME TAX EXPENSES i) Amounts recognized in profit or loss
|  | Successor |  |  | Successor |  |  | Predecessor |  |  | Predecessor |
|  | For the year ended March 31, 2025 |  |  | For the period June 16, 2023 through March 31, 2024 |  |  | For the period April 1 through June 15, 2023 |  |  | For the year ended March 31, 2023 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Current Tax Expense |  |  |  |  |  |  |  |  |  |  |  |
Current period |  |  | 12,118 |  |  |  | 7,382 |  |  |  | 657 |  |  |  | 4,873 |
Under provision in respect of prior year |  |  | 902 |  |  |  | 133 |  |  |  | — |  |  |  | — |
Deferred tax expense |  |  |  |  |  |  |  |  |  |  |  |
Origination and reversal of temporary difference |  |  | 169 |  |  |  | 1,198 |  |  |  | — |  |  |  | 4,317 |
Over provision in respect of prior year |  |  | — |  |  |  | (1,289 | ) |  |  | — |  |  |  | — |
Income tax expenses |  |  | 13,189 |  |  |  | 7,424 |  |  |  | 657 |  |  |  | 9,190 |
ii) Reconciliation of effective tax rate
|  | Successor |  |  | Successor |  |  | Predecessor |  |  | Predecessor |
|  | For the year ended March 31, 2025 |  |  | For the period June 16, 2023 through March 31, 2024 |  |  | For the period April 1 through June 15, 2023 |  |  | For the year ended March 31, 2023 |
|  | % |  |  | US$’000 |  |  | % |  |  | US$’000 |  |  | % |  |  | US$’000 |  |  | % |  |  | US$’000 |
Profit before tax |  |  |  |  |  | 60,166 |  |  |  |  |  |  | 89,512 |  |  |  |  |  |  | 3,032 |  |  |  |  |  |  | 21,612 |
Computed tax expense with Singapore statutory tax rate |  |  | 17.00 | % |  |  | 10,228 |  |  |  | 17.00 | % |  |  | 15,218 |  |  |  | 17.00 | % |  |  | 515 |  |  |  | 17.00 | % |  |  | 3,674 |
Impact of different tax rate in other jurisdiction* |  |  | 3.67 | % |  |  | 2,209 |  |  |  | (7.67 | )% |  |  | (6,865 | ) |  |  | 3.59 | % |  |  | 109 |  |  |  | 2.49 | % |  |  | 539 |
Tax effect of unrecognized loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.02 | % |  |  | 5 |
Tax adjustment of previous years |  |  | 1.50 | % |  |  | 902 |  |  |  | (1.29 | )% |  |  | (1,156 | ) |  |  | — |  |  |  | — |  |  |  | (1.06 | )% |  |  | (229 | )
Income not subject to tax |  |  | (0.30 | )% |  |  | (179 | ) |  |  | (0.20 | )% |  |  | (181 | ) |  |  | — |  |  |  | — |  |  |  | (12.59 | )% |  |  | (2,721 | )
Non-deductible expenses |  |  | 0.17 | % |  |  | 101 |  |  |  | 0.52 | % |  |  | 468 |  |  |  | 1.45 | % |  |  | 44 |  |  |  | 33.64 | % |  |  | 7,271 |
Deferred tax assets not recognized |  |  | (0.01 | )% |  |  | (6 | ) |  |  | 0.02 | % |  |  | 17 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Others |  |  | (0.11 | )% |  |  | (66 | ) |  |  | (0.09 | )% |  |  | (77 | ) |  |  | (0.36 | )% |  |  | (11 | ) |  |  | — |  |  |  | — |
Tax effect on change in valuation allowance |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3.01 | % |  |  | 651 |
Income tax expenses |  |  | 21.92 | % |  |  | 13,189 |  |  |  | 8.29 | % |  |  | 7,424 |  |  |  | 21.68 | % |  |  | 657 |  |  |  | 42.51 | % |  |  | 9,190 |
* The tax effect of the bargain purchase gain of $49.4 million recognized for the successor period from June 16, 2023 through March 31, 2024, which was effectively nil as the gain was taxable at 0% tax rate under the Cayman Islands, is recognized under the “impact of different tax rate in other jurisdictions”. iii) Deferred tax assets and liabilities
|  | Successor |  |  | Successor |
|  | As of March 31, 2025 |  |  | As of March 31, 2024 |
|  | US$’000 |  |  | US$’000 |
Deferred tax assets |  |  |  |  |  |
Property, plant and equipment |  |  | 457 |  |  |  | 949 |
Provisions |  |  | 70 |  |  |  | 48 |
Employee benefits |  |  | 526 |  |  |  | 660 |
Inventories |  |  | 416 |  |  |  | 310 |
Lease liabilities |  |  | 1,367 |  |  |  | 607 |
Other items |  |  | 102 |  |  |  | — |
Deferred tax assets |  |  | 2,938 |  |  |  | 2,574 |
Deferred tax liabilities |  |  |  |  |  |
Right-of-use assets |  |  | 1,526 |  |  |  | 794 |
Revaluation of assets in connection to MBO |  |  | 2,484 |  |  |  | 2,683 |
Other items |  |  | 207 |  |  |  | 207 |
Deferred tax liabilities |  |  | 4,217 |  |  |  | 3,684 |
As of 31 March 2025, and 2024, there were no deferred tax assets recognized from the net operating loss carry forwards. iv) Movement in deferred tax balances
|  | Movement in deferred tax liabilities |  |  | Movement in deferred tax assets |
|  | US$’000 |  |  | US$’000 |
Successor |  |  |  |  |  |
Balance at June 16, 2023 |  |  | 4,432 |  |  |  | 3,237 |
Recognized in profit or loss |  |  | (775 | ) |  |  | (603 | )
Effect of movement in exchange rates |  |  | 27 |  |  |  | (60 | )
Balance at March 31, 2024 |  |  | 3,684 |  |  |  | 2,574 |
Recognized in profit or loss |  |  | 533 |  |  |  | 364 |
Balance at March 31, 2025 |  |  | 4,217 |  |  |  | 2,938 |
|  | Movement in deferred tax liabilities |  |  | Movement in deferred tax assets |
|  | US$’000 |  |  | US$’000 |
Predecessor |  |  |  |  |  |
Balance at April 1, 2022 |  |  | 2,342 |  |  |  | 9,027 |
Recognized in profit or loss |  |  | (1,081 | ) |  |  | (4,735 | )
Deferred tax asset allowances |  |  | — |  |  |  | (1,031 | )
Effect of movements in exchange rates |  |  | (10 | ) |  |  | (24 | )
Balance at March 31, 2023, April 1, 2023 and June 15, 2023 |  |  | 1,251 |  |  |  | 3,237 |
v) Unrecognized deferred taxes Deferred tax assets have not been recognized in respect of these items as they may not be used to offset future taxable profits in the Predecessor and Successor. As of March 31, 2025 and 2024, there were no net operating losses carried forward and thus no deferred tax assets are recognized, as investment holding company in Singapore cannot carry forward any unutilized losses to set-off the income of future Years of Assessment.

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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2024-03-27 + Details
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