Sembcorp Industries expects to sink into the red in 4Q on impairment losses worth S$245 mil

-A +A

SINGAPORE (Feb 6): Sembcorp Industries has reported that it expects to book a net loss for 4QFY19 ended December, on the back of impairment losses worth S$245 million. 

In a regulatory filing on Thursday, the group said the impairment losses arose from its periodic assessment of the recoverable amounts based on expected future cash flows of its energy assets. 

One of the contributors to these losses includes a S$64 million impairment from the group’s divestment of its water business in Chile, which was also reported on Thursday. Under the divestment, Sembcorp Utilities — a wholly-owned subsidiary of Sembcorp Industries — agreed to sell 100% of their interests in the water business for a total consideration of...(click on link for full story on theedgesingapore.com)