Coal news and updates

Sembcorp Industries will book an impairment expense of $212 million in its first-half financial results, but it expects net profit to remain positive, the company announced before the market opened on Monday (Aug 2).

 

In its profit guidance, Sembcorp said the impairment will be made on its 49 per cent stake in Chongqing Songzao Sembcorp Electric Power, which is a joint venture between Sembcorp and Chongqing Power Investment Group in the city of Chongqing, China.

 

The impairment of $212 million represents the entire carrying value, or the original cost, of the asset.

 

 

Source : https://www.straitstimes.com/business/companies-markets