Sembcorp incurs $131 mil net loss in 1H20 on Hin Leong inventory write-off, among other things

SINGAPORE (July 17): As a result of exceptional items amounting to $161 million under its energy business, among other things, Sembcorp Industries has reported a net loss of $131 million in the first half of 2020 ended June 30.

This compares to earnings of $191 million in the same period a year ago.

Among the exceptional items was a $44 million write-off of gasoil inventory stored at troubled Hin Leong Trading, which had falsified its revenue and secretly sold inventory pledged as collateral.

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