Despite Sembcorp Industries’ positive 1HFY2021 results ended June 30, Phillip Securities has slashed its FY2021 earnings forecast the energy company by 34%.

The lower forecast, the brokerage says, accounts for the 1HFY2021 impairments of $212 million and lower conventional energy earnings in 2HFY2021 ended Dec 31.

See also: Analysts keep optimism on Sembcorp after positive 1H results

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