Non-moving bridge financing to joint venture partners
National Housing Authority · 2022
Severity: HighRecommendation: Unknown
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What Happened?
Category: Asset ManagementIssue: ImpairmentBridge financing provided to joint venture partners has remained uncollected for five years or more, indicating a high risk of non-collection.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Additionally, it includes bridge financing to joint venture partners which are non-moving for five years or more, amounting to P85.611 million."