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.
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