Massive impairment by Ezra's subsea JV partners clouds its future (Amended)
Its JV partners unveil writedowns from their stakes in Emas Chiyoda Subsea; Ezra's stake in ECS 'could face impairment of US$185m to US$385m'
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EZRA Holdings's early-morning trading halt on Wednesday has fuelled speculation over how the beleaguered offshore-and-marine group can withstand another massive impairment charge corresponding to the writedowns that have been unveiled by its subsea joint-venture (JV) partners.
A Maybank Kim Eng internal research note warned about taking cues from the two writedowns totalling 51 billion yen (S$635 million) by the Japanese partners of Emas Chiyoda Subsea (ECS).
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