Response to SGX Queries::

Issuer & Securities

Issuer/ Manager
SHANGHAI TURBO ENTERPRISES LTD
Securities
SHANGHAI TURBO ENTERPRISES LTD - KYG8064W1160 - AWM
Stapled Security
No

Announcement Details

Announcement Title
Response to SGX Queries
Date &Time of Broadcast
26-Apr-2019 21:00:19
Status
New
Supplementary Title
On Financial Statements
Announcement Reference
SG190426OTHR52D4
Submitted By (Co./ Ind. Name)
Leng Yew Chee Philip
Designation
Non-Executive Director and Audit Committee Chairman
Description (Please provide a detailed description of the change in the box below)
Response to SGX Queries on 26 April 2019

SGX Query:

In relation to the write-back of the RMB 30 million, can the Company disclose more details on the agreement signed with the customer, in view that the management and board is of the view that RMB 30 million is recoverable?


Company's Response:

The Company has a written letter of offer from the Customer to repay RMB 28 million on 3 April 2019, and Management is currently entering into further negotiation with the customer to repay RMB 30 million, and the terms of the payment. The Company will provide further details when a definitive agreement had been signed.