Financial instruments at fair value

12 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Financial instruments at fair value

11 Leases

 (a) Capital leases

During the year ended March 31, 2014, the Group entered into additional capital lease obligations amounting to approximately $123,000 for two motor vehicles.

Future minimum payments under capital leases as of March 31, 2014 with an initial term of more than one year are as follows:

Future minimum payments under capital	Principal repayment		Interest payment		Total obligations
leases for the years ended March 31,	$ in thousands		$ in thousands		$ in thousands
2015		23		3		26
2016		24		2		26
2017		24		1		25
2018		19		0		19
2019		2		0		2
		92		6		98

 (b) Operating leases

As of March 31, 2014, the Group leases two properties and a factory in Shenzhen under rental agreements to third parties. The Group will need to pay a cancellation fee of approximately $8,000 for the two properties if the Group decides to terminate all the rental agreements before their expiry.

The Shenzhen factory was rented out to a third party from August 1, 2013 to August 1, 2019. The expected future rental payments to be received are as follows:

Year ending March 31,	$ in thousands
2015		89
2016		89
2017		94
2018		94
2019		20
		386

Rental expense for all operating leases of an office premise in Shenzhen amounted to approximately $108,000, $nil and $51,000 for the fiscal years ended March 31, 2012, 2013 and 2014, respectively.

During the fiscal year ended March 31, 2014, and the Company rented out the Shenzhen factory to a third party as a source of rental income from August 1, 2013 to August 1, 2019.  The expected future rental payments to be received are as follows:

Year ending March 31,	$ in thousands
2015		1,249
2016		1,249
2017		1,332
2018		1,374
2019		1,374
2020		458
		7,036