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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' subsea construction vessel Lewek Constellation (left). In Q4 FY16, Ezra had already taken on board US$370.3 million in total impairments and provisions, which resulted in a Q4 loss of US$339.6 million. The full-year loss for FY16 was US$887.75 million.

Singapore

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.

sentifi.com

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