Aspial to realise A$400m cash from Australia 108 project in next 12 months

Going forward the company will disclose "unbilled contracts", which refers to contracts signed with buyers

Published Tue, Nov 19, 2019 · 09:50 PM

Singapore

ASPIAL Corporation's mega Australia 108 project is expected to realise A$400 million (S$370 million) over the next 12 months as units are completed and handed over to buyers.

In response to Singapore Exchange queries, the firm said on Nov 12 that it expects to realise cash proceeds of about A$400 million from the settlement and handover of units for Australia 108 in the next 12 months.

"The A$400 million reflects unbilled contracts," said Felix Lim, Aspial chief financial controller.

Speaking to The Business Times over the phone on Monday night, Mr Lim said going forward the company will disclose "unbilled contracts", which refers to contracts signed with buyers.

The disclosure of unbilled contracts will be in t…