Intangible Assets

12 Months Ended

Apr. 30, 2023

19.	INTANGIBLE ASSETS


	Developed technology			Brand name			Total
	US$			US$			US$
COST
At May 1, 2021		5,829			—			5,829
Additions		151			177			328
Exchange realignment		(67	)		(2	)		(69	)

At April 30, 2022		5,913			175			6,088
Reclassified as held for sale (note 15)		(5,773	)		—			(5,773	)
Exchange realignment		13			—			13

At April 30, 2023		153			175			328

AMORTIZATION
At May 1, 2021		625			—			625
Charge for the year		829			8			837
Exchange realignment		(14	)		—			(14	)

At April 30, 2022		1,440			8			1,448
Charge for the year		824			9			833
Reclassified as held for sale (note 15)		(2,268	)		—			(2,268	)
Exchange realignment		4			—			4

At April 30, 2023		—			17			17

CARRYING VALUES
At April 30, 2022		4,473			167			4,640

At April 30, 2023		153			158			311

During the year ended April 30, 2022, the Group acquired a brand name for its digital media, content, and marketing business with a cash consideration of US$177. In addition, PolicyPal, a subsidiary of the Company, acquired a wealthtech platform, which is a developed technology, with a consideration of US$151 of which US$101 was settled by issuing 619 ordinary shares of PolicyPal and US$50 was settled by cash during the year ended April 30, 2022.

The intangible assets are amortized on a straight-line basis as follows:


Developed technology		7 years
Brand name		20 years