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Receivables from Customers, Net (Tables) | 12 Months Ended
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Mar. 31, 2024
Receivables from Customers, Net [Abstract] |
Schedule of Receivables from Customers | As of March 31, 2023 and 2024, receivables from customers consisted of the following balances:
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
Third parties |  |  |  |  |  |
Receivables related to securities brokerage services |  |  |  |  |  |
Unsettled trades on trade-date basis |  | $ | 26,603 |  |  | $ | 83,539 |
Overdue balances on settlement dates(1) |  |  | 54,931 |  |  |  | 281,305 |
Other brokerage commission receivables related to primary market |  |  | - |  |  |  | 229,331 |
Receivables related to advisory fees |  |  | 99,031 |  |  |  | - |
Receivables related to introducing and referral services |  |  | 30,790 |  |  |  | 13,376 |
Receivables related to underwriting and placement services |  |  | 43,318 |  |  |  | 898,076 |
|  |  | 254,673 |  |  |  | 1,505,627 |
Less: allowance for expected credit losses |  |  | (6,610 | ) |  |  | - |
Total receivables from customers, net |  | $ | 248,063 |  |  | $ | 1,505,627 |
Related party |  |  |  |  |  |  |  |
Receivables related to securities brokerage services |  |  |  |  |  |  |  |
Overdue balances on settlement dates(1) |  | $ | 3,740 |  |  | $ | 1,219 |
Less: allowance for expected credit losses |  |  | (31 | ) |  |  | - |
Total receivables from customers-related party, net |  | $ | 3,709 |  |  | $ | 1,219 |
| (1) | According to the contracts entered into between the Group and its customers, the Group shall charge its customers on amounts due on brokerage transactions which are not yet duly settled on settlement dates an interest at Hong Kong Prime Lending Rate plus 8% per annum. Further according to the terms set out in the contracts, the Group is entitled to liquidate the security positions it holds on behalf of the particular customers in order to recover the receivable balances in cases of default. As of March 31, 2024 and 2023, the Group maintained a weighted average Loan-To-Value ratio of 0.23% and 0.90% against these balances, respectively. Subsequent to the year ended March 31, 2024, receivables from customers amounted to $159,335 have been fully settled.
Schedule of Movement of Allowance for Expected Credit Losses | The movement of allowance for expected credit losses is as follow:
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
Balance at April 1 |  | $ | - |  |  | $ | - |
Provision for expected credit losses |  |  | 6,641 |  |  |  | - |
Balance at March 31 |  | $ | 6,641 |  |  | $ | - |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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