Ahead of Sembcorp Industries’ 1HFY2021 results ended June 30, which are expected to be released on Aug 6, CGS-CIMB Research has forecast the company's earnings to plunge 94% to just $12 million from a year ago.

The brokerage has also forecast the company’s FY2021 earnings to decline 20% from FY2020.

The weaker forecasts come after Sembcorp announced that it would incur an impairment of $212 million for its 49%-owned joint venture Chongqing Songzao Sembcorp Electric Power in 1HFY2021.


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