Aspial responds to Reuters report, says balance sheet is sound

Singapore

ASPIAL on Monday clarified that its balance sheet remains sound, given its growing property development business and a "fast-to-launch" strategy for all its development projects as opposed to a land-banking strategy.

The jewellery and property group was responding to a Reuters article on Monday which reported that Singapore's "aunties and uncles" piled into a S$200 million retail bond last week from Aspial - drawn to a juicy 5.3 per cent yield - despite the group's unusually high leverage.