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Cosco Corp battered by Q4 loss of S$484m

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Published Mon, Feb 15, 2016 · 09:50 PM

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    Cosco Corp (S)

    Singapore

    MAINBOARD-listed Chinese shipbuilder Cosco Corporation (Singapore) unveiled a massive S$484 million loss for its fourth quarter, dragging full-year losses to S$570 million.

    The size of the loss, due to allowances for impairment and write-offs on offshore-related orders, far exceeded the S$88-million full-year loss forecast by DBS Vickers, the only broking house to have issued a report on the stock in the past three months.

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