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Leases

12 Months Ended

Mar. 31, 2024

7. Leases

The following table shows ROU assets – finance leases and finance lease liabilities, and the associated financial statement line items as of March 31:

	2024		2023
	As of March 31,
	2024		2023
	USD		USD
Assets
Right-of-use assets – finance lease, net		216,065		343,182

Liabilities
Finance lease liabilities, current		67,372		84,959
Finance lease liabilities, non-current		114,495		216,373

Weighted average remaining lease term (in years)		2.7		3.4
Weighted average discount rate (%)		4.3		4.4

Information relating to financing and operating lease activities during the years ended March 31, 2024, 2023 and 2022 are as follows:

	2024		2023		2022
	For the years ended March 31,
	2024		2023		2022
	USD		USD		USD
Finance leases:
Amortization of right-of-use assets – finance lease		79,521		74,671		51,892
Interest of finance lease liabilities		10,294		20,031		8,053
Total finance lease expense		89,815		94,702		59,945
Operating lease:
Expenses related to a short-term lease		37,179		33,333		21,260
Operating lease cost		37,179		33,333		21,260

Total lease expenses		126,994		128,035		81,205

Cash outflows related to finance leases:
Financing cash outflows – principal paid		119,465		131,456		43,750
Operating cash outflows – interests paid		10,294		20,031		8,053
		129,759		151,487		51,803

Cash outflows related to operating lease:
Operating cash outflows - rental paid		37,179		33,333		21,260

During the year ended March 31, 2024, additions to right-of-use assets – finance lease were nil (2023: USD297,179) (2022: nil). This amount represented the purchase of a motor vehicle under finance lease. Right-of-use assets – finance lease represented purchases of certain motor vehicles under finance leases for its operations. Lease contracts are entered into for fixed term of 60 months (2023: 60 months) (2022: 36 months to 60 months), Lease terms are negotiated on an individual basis and contain different terms and conditions.

Maturities of lease payments under finance lease liabilities were as follows:

	2024			2023			2022
	As of March 31,
	2024			2023			2022
	USD			USD			USD
Year ending March 31,
2023		-			-			51,803
2024		-			96,508			46,577
2025		73,757			96,508			30,898
2026		69,683			82,954			17,345
2027		49,207			49,207			-
Total undiscounted finance lease payments		192,647			325,177			146,623
Less: imputed interest		(10,780	)		(23,845	)		(11,015	)
Finance lease liabilities recognized in the Consolidated Balance Sheet		181,867			301,332			135,608