Fallout of JAC reaches Sembcorp and PEC
Sembcorp makes provision for S$19m while PEC impairs S$19m debt
Singapore
THE ripples of Jurong Aromatic Corporation's (JAC) troubles have reached at least two listed companies, though the firm's receivership status has had limited impact on the rest of Singapore's petrochemical sector.
Sembcorp Industries made a provision for S$19 million before tax for the quarter ended Sept 30, while specialist engineering group PEC impaired a S$19 million debt, which pushed it into the red for its financial year ended June 30, 2015.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Sri Lanka approves power deal with India's Adani Group
BP profits drop to US$2.7 billion, refinery outage offsets higher output
Aramco to pay US$31 billion dividend as Saudi posts budget deficit
PetroVietnam announces new oil discoveries with initial reserves of 100.5 million barrels
European oil giants consider shifting their listings to the US
ExxonMobil sees Hess arbitration dragging into 2025, CEO says