Chemical Industries (Far East) Reports FY2025 Loss of $21.5M Amid Intense Competition; Secures New 10-Year $150M Contract to Support Future Growth
Summary:
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Group recorded a net loss of $21.5 million for FY2025 due to tough competition, higher depreciation from increased CAPEX, and impairment losses.
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Impairment charges totaled $10.1 million for property, plant and equipment, plus a $6.2 million provision for onerous contracts.
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Despite losses, cash flow remained positive.
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Recently signed a long-term 10-year $150 million supply contract with a key customer to support their new plant, reflecting continued customer confidence.
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Continued focus on energy efficiency, including investment in high-efficiency motors and water recycling initiatives.
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Board proposed a final dividend of 0.5 cents per share, subject to shareholder approval.
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Company pursuing strategic partnerships and diversification into specialty chemicals to strengthen future profitability.
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Recognized at SCIC Responsible Care Awards 2024 for pollution prevention, process safety, and security; also achieved BizSafe level Star and SS 651 certification.