PEC warns of loss on Jurong Aromatics' debt woes
Singapore
PEC Ltd on Wednesday said about S$19 million due from its client Jurong Aromatics Corporation (JAC), which has been put into receivership, remains outstanding.
Correspondingly, the specialist engineering group said that it may report a net loss for fiscal 2015 ended June 30, 2015, if it is required to make specific provision of doubtful debts. "The company is currently in discussions with the receivers of JAC with regard to the payment, and depending on the outcome of such discussions, the group may report a net loss for FY2015 if the group is required to make any specific provision of doubtful debts in its FY2015 accounts."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Singapore stocks end lower even as regional markets rally; STI slips 0.1%
New Thai finance minister downplays row with central bank
South-east Asia increasingly used for illicit money flows, terrorist financing: US Treasury official
Apac finance M&A to stay subdued after Q1 decline as uncertainties linger: S&P Global
Japan's Nikkei closes at 3-week high on US rate-cut outlook, tech boost
Philippines’ PLDT in talks to sell up to 49% of data centre business to Japan’s NTT