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Billion Electric Reports Ovedue Other Receivables of NT$169 Million in April

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Billion Electric (TPE:3027) posted overdue other receivables of NT$168.7 million as of April 30, accounting for most of its NT$208.3 million total other receivables balance.

The company said the receivables represented 6.52% of total assets and 16.05% of share capital, according to its unaudited consolidated financial data released on Wednesday.

Billion Electric said it has filed for arbitration with the South China International Economic and Trade Arbitration Commission to seek recovery of about $4.46 million from China Potevio, and Potevio International. It added that the arbitration judgment period has been extended to June 30, while current operations and liquidity remain unaffected.

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