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Flextronics not paying ?

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Gaudente
Posts: 18
Joined: Sun Apr 23, 2017 12:09 pm

Flextronics not paying ?

Postby Gaudente » Sun Apr 01, 2018 12:12 am

I have various Flextronics facilities (924-993-1131) which are long time overdue. Any idea about what's happening ? :?: Isn't Flextronics Singapore a subsidiary of FLEX quoted at Nasdaq ? How can it be a quoted multinational is 90 days late on paying invoices ? :shock:

Capital Match
Posts: 17
Joined: Sun Apr 03, 2016 6:52 pm
Contact:

Re: Flextronics not paying ?

Postby Capital Match » Sun Apr 01, 2018 1:09 pm

Hi Gaudente,

As we have been explaining in the updates and e-mails to investors, there is an overall delay in payments to the seller from the debtor but we keep receiving payments every week. The debtor’s payment days to the seller have increased over time but all the invoices are successively settled (we reconcile each payment with a payment advice and with an original invoice and there are no discrepancies, just a delay).

We have facilitated financing of the seller’s invoices to this debtor for close to two years now (and received repayments already in S$m's) and there has been no default on any of the invoices. Just that older invoices have to be settled first.

The company is growing strongly, thus they need working capital to support the growth (they have recently increased their warehouse capacity yet again).

As additional securities, we have a deed of charge on company’s receivables and trade credit insurance against a debtor’s potential default.

Kind regards,
Capital Match
CapitalMatch Team
www.capital-match.com | support [at] capital-match.com
Capital Match Platform Pte Ltd


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