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Sembcorp Industries says it expects to incur losses for FY2020 in profit guidance

Felicia Tan
Felicia Tan12/7/2020 08:30 AM GMT+08  • 2 min read
Sembcorp Industries says it expects to incur losses for FY2020 in profit guidance
The group adds that it expects to maintain positive operating cash flow in 2020.
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Sembcorp Industries says it expects to incur losses for the FY2020 in its profit guidance released on Dec 7.

The losses are primarily attributable to the non-cash, non-recurring loss of some $1.12 billion following the completion of the distribution in specie of ordinary shares in the capital of Sembcorp Marine (SembMarine) on Sept 11, 2020.

The loss resulted from the fair value of $1.60 billion being lower than the carrying amount of SembMarine’s $2.72 billion as at June 30, 3030.

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