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IEV's oilfield exit spurs fears of blow to earnings

Catalist-listed group is also selling corporate headquarters at a loss as part of cost-cutting drive

Annabeth Leow

Published Thu, Jan 11, 2018 · 09:50 PM

Singapore

CATALIST-listed IEV Holdings is selling its corporate headquarters at a loss, in what the offshore engineering and gas company said on Wednesday night is part of a "cost rationalisation exercise".

News of the sale came hot on the heels of an announcement that the group's Indonesian subsidiary would be exiting a West Java oilfield where production was "commercially unviable".