Singapore
CHIYODA Corp and NYK Line on Tuesday issued warnings of one-time writedowns against their stakes in Emas Chiyoda Subsea (ECS), a joint venture with Singapore-listed Ezra Holdings.
NYK Line said an extraordinary loss of about 13 billion yen (S$162 million) has been provided for its 25-per-cent stake in UK-incorporated ECS in its financial results for the third quarter ended March 31, 2017. The Japanese shipping line explained that the one-time loss was recorded after reassessing the future...