PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Mar. 31, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

10.

PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment is summarized as follows:

	As of March 31,			As of March 31,
	2012			2011
	US$’000			US$’000

Buildings		13,714			3,001
Leasehold improvements		1,532			1,016
Plant and machinery		24,807			4,638
Motor vehicles		1,547			1,398
Furniture, fixtures and office equipment		4,281			1,743
Construction in progress		9,196			6,939

		55,077			18,735

Accumulated depreciation and impairment loss		(8,956	)		(2,102	)

		46,121			16,633

Depreciation expenses were approximately US$1,994,000 and US$1,093,000 for the years ended March 31, 2012 and 2011, respectively.

In December 2011, the Company was advised by the local authority in Changxing that the original production technique, external battery formation, can no longer be used after October 31, 2012. Some of the Company’s machinery and equipment cannot be used under the tightened policy. Management revised the estimated remaining useful life of those machinery and equipment to 10 months. This change of accounting estimate increased cost of sales and net losses by US$558,000 and increased the losses per share by US$0.001 for the year ended March 31, 2012.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Chisen Electric Corp 10-K