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Writedown dents SembCorp results.
(From Lloyds List)
Byline: Marcus Hand in Singapore
KUHNE ' Nagel's SFr 206m ($152.4m) writedown will result in Singapore's SembCorp Logistics profit for 2002 being almost halved.
SembCorp owns 20% of K'hne ' Nagel and its own profits will be reduced by S$36m (US$20.4m), or 20%, of the total writedown.
This will cut SembCorp's after-tax profit for 2002 from S$78.5m as previously reported, to S$41.9m, the Singapore company said in a statement.
'The K'hne and Nagel audit committee has taken a very conservative stand with this impairment. However, it addresses the increasingly ...
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