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KS Energy expects positive cashflow from charter contracts

KS Energy on Wednesday said although the group expects the overall operating cash flow to remain negative in the next 12 months, it anticipates generating positive cash flows from existing and prospective rig charter contracts.

It was responding to an emphasis of matter of its auditor for its full-year results for the period ended Dec 31, 2016.

It said its operating cash flow forecast is derived from the chartering cash flow forecast, the forecast for other operating costs and for changes in working capital. It said these are "continuously reviewed" by the management.

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