Short-term borrowings

9 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Short-term borrowings

Note 10 – Short-term borrowings

Following is a summary of short-term borrowings as at December 31, 2021 and March 31, 2021:

	December 31, 2021		March 31, 2021
OCBC- SGD- short term overdraft	$	445	$	-
PAN Asia Bank – short term overdraft		-		372,291
PAN Asia Bank – loan		-		56,214
Commercial Bank		-		2,488
	$	445	$	430,993

Bank overdraft facility, obtained from Pan Asia Banking Corporation PLC, contains an interest rate of 9% per annum for $105,793, 11.25% per annum for the next $110,327, 12.75% per annum for the next $149,118 and 28% per annum for above $365,239.