Accordingly, Sembcorp has exited the Chilean market.
Upon the completion of the divestment, Sembcorp Industries has registered a currency translation loss of some $32 million, which is recognised under profit and loss in the foreign currency translation reserve.
A hedging gain of about $5 million reduces the net charge to $27 million, which has resulted in a reduction of 1.51 cents in the company’s earnings per share (EPS).
Sembcorp Industries says this transaction is not expected to have a material impact on the net asset value per share for the financial year ending December 31.
As at 10.08am, shares in Sembcorp Industries are changing hands 1 cent lower, or 0.6% down, at $1.73.
See also: SembCorp's conscious decoupling with Sembcorp Marine, and Sembcorp Marine to raise $2.1 billion via rights issue; parent Sembcorp Industries to distribute stake in-specie to shareholders
