Trade Receivables

12 Months Ended

Mar. 31, 2024

Trade Receivables [Abstract]

TRADE RECEIVABLES

NOTE 6 — TRADE RECEIVABLES

Trade receivables consist of the following:

	As of March 31, 2024			As of March 31, 2023
	(US$)			(US$)
Receivable from related parties		444,082			352,424
Receivable from others		3,367,494			1,537,132
Less: allowance for doubtful debts (expected credit loss)		(129,274	)		(57,832	)
Total receivables	$	3,682,302		$	1,831,724

The average credit period on sales of services is 30 days. No interest is charged on outstanding trade receivables.

The Group always measures the loss allowance for trade receivables at an amount equal to lifetime ECL. The expected credit losses on trade receivables are estimated using a provision matrix by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast direction of conditions at the reporting date. The Group has recognised a loss allowance of 100% against all receivables over 365 days past due because historical experience has indicated that these receivables are generally not recoverable.

There has been no change in the estimation techniques or significant assumptions made during the current reporting period.

The Group writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or when the trade receivables are over two years past due, whichever occurs earlier. None of the trade receivables that have been written off is subject to enforcement activities

The following table details the risk profile of trade receivables based on The Group’s provision matrix. As The Group’s historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance based on past due status is not further distinguished between The Group’s different customer base.

As at March 31, 2024
Ageing	Not past due &<30			31 - 90			90 - 180			180 - 365			>365			Total
Gross carrying amount		2,821,141			335,357			276,851			138,164			240,063			3,811,576
Expected loss rate		0.00	%		0.00	%		0.04	%		6.61	%		50.00	%
Estimated total gross carrying amount at default		2,821,141			335,357			276,851			138,164			240,063			3,811,576
Lifetime ECL		—			—			106			9,137			120,031			129,274

As at March 31, 2023
Ageing	Not past due &<30			31 - 90			90 - 180			180 - 365			>365			Total
Gross carrying amount		1,259,489			239,522			220,966			59,573			110,006			1,889,556
Expected loss rate		0.00	%		0.00	%		0.03	%		5.82	%		50.00	%
Estimated total gross carrying amount at default		1,259,489			239,522			220,966			59,573			110,006			1,889,556
Lifetime ECL		—			—			73			3,642			54,117			57,832

The following table shows the movement in lifetime ECL that has been recognized for trade receivables in accordance with the simplified approach set out in IFRS 9.

	Collectively assessed		Individually assessed
Balance as at 31 March 2024		3,811,576		—
Balance as at 31 March 2023		1,889,554		—