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BUSINESS COMBINATION
 12 Months Ended
Mar. 31, 2016
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]
16.
BUSINESS COMBINATION
 
The Company acquired 25% equity interest in Kayser Myanmar on June 9, 2014 at a consideration of $25 and further acquired 50% equity interest in Kayser Myanmar on March 9, 2015 at a consideration of $50. The provisional assets and liabilities of Kayser Myanmar had been recorded at fair values on the date of acquisition.
 
 
 
$
 
Identifiable assets acquired, at fair value:
 
 
 
 
Cash and cash equivalents
 
 
56
 
Accounts receivable
 
 
293
 
Other assets
 
 
76
 
Property, plant and equipment
 
 
145
 
Long term payables
 
 
(545)
 
Other liabilities
 
 
(2)
 
 
 
 
23
 
 
The non-controlling interest (25%) in Kayser Myanmar recognised at the acquisition date was measured by reference to the proportionate share of recognised amounts of net assets of Kayser Myanmar and amounted to $25.
 
 
 
$
 
Goodwill arising on acquisition:
 
 
 
 
Cash consideration paid
 
 
50
 
Add: Non-controlling interests
 
 
25
 
Add: Interest in equity investee previously held
 
 
25
 
Less: Identifiable net assets acquired
 
 
(23)
 
Goodwill arising on acquisition
 
 
77
 
 
 
 
$
 
Net cash outflow arising on acquisition is determined as follows:
 
 
 
 
Cash consideration paid
 
 
(75)
 
Bank balance and cash acquired
 
 
56
 
 
 
 
(19)
 
 
The following pro forma information summarises the effect of the acquisition, as if the acquisition of Kayser Myanmar had occurred as of april 1, 2014. This pro forma information is presented for information purposes only. It is based on historical information and does not purport to represent the actual results that may have occurred had the acquisition been consummated on April 1, 2014, nor is it intended to be a projection of future results:
 
 
 
$
 
 
 
(unaudited)
 
 
 
 
 
 
Pro forma net sales
 
 
22,373
 
Pro forma operating income
 
 
1,308
 
Pro forma net income
 
 
1,184