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Long-Term Rental Prepayment

12 Months Ended

Mar. 31, 2020

Long-Term Rental Prepayment [Abstract]

The amount represented prepaid rental to Konig Company Limited ("Konig Company"), a Myanmar Company, which is owned by a non-controlling interest of Kayser Myanmar (owns a 16% interest in Kayser Myanmar). On March 29, 2019, Kayser Myanmar and Konig Company have entered into a 50-year rental agreement for a manufacturing complex in Yangon, Myanmar (the "New Facility"). Kayser Myanmar's operations will be conducted at this new factory after the agreement commencing from April 1, 2019.

The lease for the New Facility has a term of 50 years, Kayser Myanmar has the option to extend the lease term for two consecutive 10-year terms on the same terms and conditions as in effect for the initial 50-year period. Kayer Myanmar is obligated under the lease to make monthly lease payment equal to 10 million Myanmar Kyat (equivalent to $7.2 per month as of March 31, 2020).

Kayser Myanmar has paid Konig Company $950 as prepaid rent under the lease, approximately 12 years of rental payments. Upon application of Topic 842, the current and non-current portion of rental prepayment as of April 1, 2019 for $79 and $871 respectively were reclassified to ROU assets.