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ST Engg to book S$61m charge on China venture

It says China business has been hurt by severe oversupply, cash 'will soon run out'
Wednesday, October 19, 2016 - 05:50

Singapore

ST Engineering is to make a significant S$61 million writedown in the third quarter on an investment in China, as it fears that this joint venture with a Chinese state-owned enterprise will soon run out of cash.

This comes amid an ongoing review of its Chinese business

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