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04-02-2024, 08:05 AM
Seatrium expects to improve its productivity once the assets surplus to its operations are written down. PHOTO: BT FILE
Seatrium

SEATRIUM expects a financial loss for FY2023 that is “significantly higher than the previous year”, based on its profit guidance on Tuesday (Jan 30).
The group noted that it is expected to make a material non-cash write-down related to the “surplus non-core assets and obsolete inventories” for the financial year, which were identified by the management’s strategic review.
“In line with the group’s business transformation, management undertook a strategic review of its business focus, operational footprint, and assets required to support its strategy of building a profitable and resilient business going forward,” said the group, noting that the assets as surplus to its operations would be written down to improve its productivity."
Seatrium

SEATRIUM expects a financial loss for FY2023 that is “significantly higher than the previous year”, based on its profit guidance on Tuesday (Jan 30).
The group noted that it is expected to make a material non-cash write-down related to the “surplus non-core assets and obsolete inventories” for the financial year, which were identified by the management’s strategic review.
“In line with the group’s business transformation, management undertook a strategic review of its business focus, operational footprint, and assets required to support its strategy of building a profitable and resilient business going forward,” said the group, noting that the assets as surplus to its operations would be written down to improve its productivity."
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