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v3.24.2

Property, Plant and Equipment, Net | 12 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment, Net [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET |
8. | PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment, net consisted of the following:
|  | As of March 31, |
|  | 2023 |  |  | 2024 |
|  | $ |  |  | $ |
At cost: |  |  |  |  |  |
Machinery and equipment |  |  | 11,149 |  |  |  | 11,036 |
Furniture and fixtures |  |  | 79 |  |  |  | 79 |
Leasehold improvements |  |  | 822 |  |  |  | 816 |
Motor vehicles |  |  | 163 |  |  |  | 151 |
Total |  |  | 12,213 |  |  |  | 12,082 |
Less: Accumulated depreciation and impairment |  |  | (11,812 | ) |  |  | (11,747 | )
Less: Impairment loss |  |  | - |  |  |  | (335 | )
Property, plant and equipment, net |  |  | 401 |  |  |  | - |
Depreciation expense incurred for the years ended March 31, 2022, 2023 and 2024 were $162, $209 and $159, respectively. No impairment of property, plant and equipment was recognized during the years ended March 31, 2022 and 2023. For the year ended March 31, 2024, as the estimated undiscounted future cashflows are less than the carrying value of property, plant and equipment, an impairment loss of $335 is recognized. Income approach is used to measure the fair value of assets and liabilities. Impairment loss is recognized as the adverse changes in the business climate negatively impact the Group’s business operations.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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