Triyards provides breakdown of US$45.1m impairment

Singapore

TRIYARDS, in its response to a Singapore Exchange query, said that almost one third of the US$45.1 million impairment charges booked under its third-quarter financial results pertains to stalled newbuilding projects from an affiliate in the larger Ezra group.

The yard operating subsidiary of Ezra group has made US$14.7 million in provision for inventory obsolescence, against US$45.1 million in total impairment for the three months ended May 31, 2017.