INVESTMENTS IN NON-MARKETABLE SECURITIES

12 Months Ended

Mar. 31, 2021

Disclosure Text Block Supplement [Abstract]

NOTE 7 – INVESTMENTS IN NON-MARKETABLE SECURITIES

Short-term investment

	*(in thousands)*
	As of March 31, 2021 ($)		As of March 31, 2020 ($)
Investment in Evolve I (i)		80		-
Total		80		-

(i)

On May 12, 2020, the Company acquired approximately 19.8% shareholding in Evolve I, Inc., a Washington corporation (“Evolve”) under the terms of a Share Subscription Agreement (“SSA”) for a consideration of approximately $249 thousand. However, based on an assessment of the business environment, the Company decided to dispose the holding and amicably exit the acquisition. In light of the above, the Company recorded an impairment charge of $169 thousand as of March 31, 2021.

Long-term investment

	*(in thousands)*
	As of March 31, 2021 ($)		As of March 31, 2020 ($)
Investment in equity shares of unlisted company		12		11
Total		12		11

The Company regularly reviews its investment portfolio to determine if any security is permanently impaired, which would require the Company to record an impairment charge in the period.