Sembcorp warns of doubtful debts ahead as Q3 profit dives

Singapore

A MARKED slide in all of its three major business segments plus a sizeable provision for doubtful receivables weighed on the bottomline for utilities group Sembcorp Industries for the third quarter, with the group warning that it may have to make further provisions by year-end.

Net profit for the three months ended Sept 30 plummeted 37.8 per cent to S$122.30 million, dragged down primarily by the marine arm, the group said in a press release on Thursday.