SOFTWARE HIRE PURCHASE AGREEMENTS

3 Months Ended

Jun. 30, 2018

Hire Purchase Arrangement [Abstract]

SOFTWARE HIRE PURCHASE AGREEMENTS

5. SOFTWARE HIRE PURCHASE AGREEMENTS

 The Group acquired software under a hire purchase arrangement which is stated at the present value of the minimum instalment payments. The gross stated amount for such software is $429 and $430 and related accumulated depreciation is $128 and $107, respectively, as of June 30, 2018 and March 31, 2018.

Depreciation expenses in respect of assets held under hire purchase were $21 for the three months ended June 30, 2018, compared to $22 for the three months ended June 30, 2017.

The following is a schedule of the future minimum installment payments under hire purchase, together with the present value of the net minimum installment payments as of June 30, 2018.

Period ended June 30,	Amount
2019	$	139
Total minimum installment payments of hire purchase	$	139
Less: Interest portion		3
Present value of net minimum installments of hire purchase	$	136