❓ Hon Martin Pritchard asks about the impact of the Perth Market Authority sale on the government's financial position. The answer details the payment schedule and expected net debt reduction.
AnsweredQoN 238Legislative Council
QuestionView source ↗
STATEMENT OF FINANCIAL POSITION — PERTH MARKET AUTHORITY —
ASSET SALES
238. Hon MARTIN PRITCHARD to
the minister representing the Treasurer:
What is the impact on the government's statement of
financial position—total public sector—of the sale of the Perth
Market Authority?
ASSET SALES
238. Hon MARTIN PRITCHARD to
the minister representing the Treasurer:
What is the impact on the government's statement of
financial position—total public sector—of the sale of the Perth
Market Authority?
AnswerView source ↗
In accordance with the Perth Market
Authority sale contract, the state will receive $135.5 million, being a $5 million
deposit received on 12 February 2016; $120.5 million on 31 March 2016; and $10 million
on 31 March 2026.
The initial impact on the government's
statement of financial position will be the receipt of $125.5 million gross
proceeds offset by the cost of project costs, wind-up costs and reversal of the
PMA forward estimates. Net debt is expected to reduce by approximately $118 million
by 30 June 2016 as a result of the sale of the business and its physical
assets.
Authority sale contract, the state will receive $135.5 million, being a $5 million
deposit received on 12 February 2016; $120.5 million on 31 March 2016; and $10 million
on 31 March 2026.
The initial impact on the government's
statement of financial position will be the receipt of $125.5 million gross
proceeds offset by the cost of project costs, wind-up costs and reversal of the
PMA forward estimates. Net debt is expected to reduce by approximately $118 million
by 30 June 2016 as a result of the sale of the business and its physical
assets.
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