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Singapore Myanmar Investco reports bigger FY18 losses of $13.1 mil on one-off impairment allowance

Stanislaus Jude Chan
Stanislaus Jude Chan5/28/2018 07:15 PM GMT+08  • 2 min read
Singapore Myanmar Investco reports bigger FY18 losses of $13.1 mil on one-off impairment allowance
SINGAPORE (May 28): Singapore Myanmar Investco (SMI) saw its full-year losses widen to US$9.8 million ($13.1 million) for the FY18 ended March, some 37.9% higher than losses of US$7.1 million a year ago.
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SINGAPORE (May 28): Singapore Myanmar Investco (SMI) saw its full-year losses widen to US$9.8 million ($13.1 million) for the FY18 ended March, some 37.9% higher than losses of US$7.1 million a year ago.

This was mainly due to an impairment allowance of US$4.5 million on the group’s subsidiary, TPR Myanmar, which is currently held for sale.

FY18 revenue grew 3.0% to US$24.0 million, from US$23.3 million a year ago.

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