Samudera Shipping Line Ltd – Profit Guidance for the Financial Year Ended 31 December 2016
2016-12-05 09:23

Samudera Shipping Line Ltd – Profit Guidance for the Financial Year Ended 31 December 2016

The Board of Directors (the “Board”) of Samudera Shipping Line Ltd (the “Company” and together with its subsidaries, the “Group”) wishes to announce that based on a preliminary review on the fair value and recoverable amount of the Group’s fleet of vessels, a provision for impairment of assets is expected for the financial year ended 31 December 2016 (“FY2016”). Coupled with the provision of bad debts in view of the filing of the receivership by Hanjin Shipping Co Ltd, the Group is expected to report a net loss of 4QFY2016 and FY2016.

Further details of the Group’s financial performance will be disclosed when the Company announces its full year unaudited consolidated financial results for FY2016 on or before 1st March 2017.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company. When in doubt as to the action they should take, shareholders and investors should consult their stock brokers, bank managers, solicitors or other professional advisers.

By order of the Board

Hermawan Fridiana Herman

Executive Director, Finance


Source: Samudera (LF)

Source: Samudera