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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook