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Property, Plant and Equipment, Net
 12 Months Ended
Mar. 31, 2025
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, 
   2024   2025 
   $   $ 
At cost:        
Machinery and equipment   11,036    11,122 
Furniture and fixtures   79    79 
Leasehold improvements   816    743 
Motor vehicles   151    151 
Total   12,082    12,095 
Less: Accumulated depreciation and impairment   (11,747)   (12,001)
Less: Impairment loss   (335)   
-
Property, plant and equipment, net   
-
    94 

 

Depreciation expense incurred for the years ended March 31, 2023, 2024 and 2025 were $209, $159 and $9, respectively.

 

For the year ended March 31, 2024, as the estimated undiscounted future cash flows are less than the carrying value of property, plant and equipment, an impairment loss of $335 was recognized. Income approach was used to measure the fair value of assets and liabilities. Impairment loss was recognized as the adverse changes in the business climate negatively impacted the Group’s business operations.

 

No impairment of property, plant and equipment was recognized during the years ended March 31, 2023 and 2025.

 

During the fiscal year ended March 31, 2025, the company sold an apartment located in Shenzhen, China for net proceeds of $333 after transaction taxes.