SGX questions collectability of Sinotel Technologies' trade receivables

So will a provision for doubtful debt be necessary?

Further to the announcement made on 16 November 2011, the Board of Directors of Sinotel Technologies Ltd. provided additional information in response to a further query raised by SGX in relation to the company’s Financial Statements and Dividend Announcement for the nine months period ended 30 September 2011 which was released on 4 November 2011.

Question
Please disclose whether there are any issues of collectability with the trade receivables.

Answer
The Directors of the Company are of the view that the trade receivables are collectible as the customers of the Group have good track record and have no history of default and as such, no provision for doubtful debt is necessary.

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Tags: SGX, Sinotel Technologies