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Billion Electric Posts Other Receivables of NT$204 Million in May

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Billion Electric (TPE:3027) reported other receivables of NT$203.6 million in May, equivalent to 6.28% of total assets and 15.66% of share capital, according to a Tuesday Taiwan Exchange filing.

Shares gained about 2% in Wednesday's midday trade.

Of this, NT$167.1 million was classified as overdue, while recoveries during the month stood at NT$3.32 million, the filing said.

The company has initiated arbitration proceedings through the South China International Economic and Trade Arbitration Commission (SCIA) to recover $4.46 million in receivables from China Potevio, and Potevio International.

The case is currently in progress, with the ruling deadline extended to June 30, the filing said.

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