SUBSCRIBERS

Fallout of JAC reaches Sembcorp and PEC

Sembcorp makes provision for S$19m while PEC impairs S$19m debt

Published Wed, Dec 23, 2015 · 09:50 PM

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.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes