S$19m debt impairment pushes PEC into the red

Singapore

THE impairment of a S$19 million debt due from Jurong Aromatic Corporation (JAC) has pushed specialist engineering group PEC into the red for the full year ended June 30, 2015.

While PEC had earlier recorded an unaudited net profit attributable to equity-holders of S$7.17 million, audited results released on Monday showed that it registered a net loss instead of S$6.89 million.