as of 31 Dec 2018 rig not sold7 Mar 2019 20:35
from YZJ accounts.. 'This year, we had written down another RMB211 million in value of the jack up drilling rig, and the Group is actively seeking for potential buyer for the jack up rig.'
further questioning from SGX Exchange..
It is disclosed on page 16 of the announced financial results that the Company had written off an amount of RMB 233 million of trade and other receivable. In relation to the trade receivables for which impairment has been provided, please disclose:
i. The Company’s plans to recover the trade receivables;
The provision was for advance payment to a supplier which ran into financial difficulties and had ceased operations.
The Company plans to recover part of the advance payment via legal proceeding against the supplier.
ii. Whether they are major customer(s) and whether the Company continues to transact with these customer(s);
No.