Banking facilities (Tables)

12 Months Ended

Mar. 31, 2020

Banking Facilities

General banking facilities

The Company’s general banking facilities, expressed in United States dollars, are further detailed as follows:

	Amount available				Amount utilized				Amount unutilized				Terms of banking facilities as of
	March 31,				March 31,				March 31,				March 31, 2020
	2019		2020		2019		2020		2019		2020		Interest	Repayment
	$ in thousands				$ in thousands				$ in thousands				rate	terms
Import and export  facilities
Combined limit		2,564		2,564		445		937		2,119		1,627
Including sub-limit of:
Notes payable		2,308		2,308		—		—		2,308		2,308	HIBOR* +2.5%	Repayable in full within 120 days
Bank overdrafts		641		641		—		—		641		641	Prime rate +1%	Repayable on demand
Long term loans (1)		641		1,214		445		937		196		277	HIBOR* +2%	Term loans repayable monthly over 3 years.
Other facilities
Export documentary credits		641		641		—		—		641		641
Revolving loan		1,923		1,923		—		1,000		1,923		923	HIBOR* +2.25%	Revolving loan repayable in 3 years
		5,128		5,128		445		1,937		4,683		3,191

(1) A clause in the banking facilities states that the term loans are subject to review any time and also subject to the bank's overriding right to repayment on demand, including the right to call for cash cover on demand for prospective and contingent liabilities. Therefore, all long-term loans were classified as current liabilities in the consolidated balance sheets. As of March 31, 2020, the long-term loans became current as they are repayable within one year in accordance with the repayment schedule.

* HIBOR is the Hong Kong Interbank Offer Rate

Short-term borrowings

The weighted average interest rates of borrowings of the Company are as follows:

	During the fiscal year ended March 31,
	2019			2020
Bank overdrafts		6.00	%		6.00	%
Notes payable		4.18	%		4.71	%
Term loans		3.45	%		4.06	%
Revolving loan		not applicable			4.29	%