Intangible assets, net

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

6 Intangible assets, net

Intangible assets are analyzed as follows:

	March 31,
	2019			2020
	$ in thousands			$ in thousands
Cost		5,951			5,566
Less: accumulated amortization		(3,613	)		(3,636	)
		2,338			1,930

The components of intangible assets are as follows:

	March 31,
	2019		2020
	$ in thousands		$ in thousands
Land use right of factory land in Shenzhen, Guangdong, PRC		1,014		780
Land use right of factory land in Xinxing, Guangdong, PRC		1,324		1,150
		2,338		1,930

Amortization expense in relation to intangible assets was approximately $277,000, $275,000 and $264,000 for each of the fiscal years ended March 31, 2018, 2019 and 2020, respectively.

As of March 31, 2020, future minimum amortization expenses in respect of intangible assets are as follows:

Year ending March 31,		$ in thousands
	2021		257
	2022		257
	2023		257
	2024		257
	2025		194
	Thereafter		708
	Total		1,930

In November 2017, the Company signed an agreement with a property developer in Shenzhen - Shenzhen Fangda Property Development Company Limited (“Fangda”) to cooperate in reconstructing and redeveloping the Shenzhen factory. The redevelopment will be on the factory land in Shenzhen.