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Vallianz sinks into FY17 loss of US$159 mil on exceptional expenses

Michelle Zhu
Michelle Zhu5/22/2017 8:12 AM GMT+08  • 3 min read
Vallianz sinks into FY17 loss of US$159 mil on exceptional expenses
SINGAPORE (May 22): Vallianz Holdings, the provider of offshore support vessels (OSVs) and integrated offshore marine solutions to the oil and gas (O&G) industry, announced losses of US$159.4 million for the 15 months ended March 31, compared to FY15 ende
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SINGAPORE (May 22): Vallianz Holdings, the provider of offshore support vessels (OSVs) and integrated offshore marine solutions to the oil and gas (O&G) industry, announced losses of US$159.4 million for the 15 months ended March 31, compared to FY15 ended Dec earnings of US$17.5 million a year ago.

The group is changing its financial year end to March from Dec previously.

In a Monday press release, the group says this was due to exceptional expenses – in the form of non-cash net impairment expenses – totalling US$214.6 million for certain of its assets, including impairment expenses of US$22.3 million attributable to non-controlling interests.

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