Leases

12 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

11 Leases

(a) Capital leases

During the year ended March 31, 2014, the Company entered into capital lease obligations amounting to approximately $123,000 for two motor vehicles. During the year ended March 31, 2016, the Company entered into an additional capital lease obligation amounting to approximately $116,000 for one motor vehicle. During the year ended March 31, 2018, one capital lease obligation amounting to approximately $69,000 for a motor vehicle was fully repaid. During the year ended March 31, 2019, one capital lease obligation amounting to approximately $47,000 for another motor vehicle was fully repaid.

Future minimum payments under capital leases as of March 31, 2019 with an initial term of more than one year are as follows:

Future minimum payments under capital leases for the years ending March 31,	Principal repayment	Interest payment	Total obligations
	$ in thousands	$ in thousands	$ in thousands
2020	27	1	28
2021	5	—	5
	32	1	33

(b) Operating leases

As of March 31, 2019, the Company leases two commercial units in Beijing and part of production facilities and machines in Xinxing under rental agreements to third parties. The Company will need to pay a cancellation fee of approximately $108,000 if the Company decides to terminate all the rental agreements before their expiry.

The Shenzhen factory is rented out to a third party from August 1, 2013 to August 1, 2019, and the rent terminated as at January 31, 2019. Part of the production facilities in Xinxing are rented out to various third parties up to February 13, 2026. Certain tenants have an option to early terminate their tenancy agreements. The expected future minimum rental payments to be received are as follows:

Year ending March 31,		$ in thousands
	2020		95
			95

As of March 31, 2019, the future minimum lease commitment payables in respect of non-cancellable operating leases for one office and two staff quarters in Shenzhen and a staff quarter in Xinxing are as follows:

Year ending March 31,		$ in thousands
	2020		112
	2021		110
	2022		109
	2023		109
	2024		23
			463

Rental expenses for all operating leases of one office premise in Shenzhen, two staff quarters in Shenzhen and a staff quarter in Xinxing amounted to approximately $100,000, $95,000 and $102,000 for the fiscal years ended March 31, 2017, 2018 and 2019, respectively.