On behalf of subsidiaries-Crimson Marine Company: Recognize the impairment provision on Vessel “Georgiana”.
Posted in Company News
1.Date of occurrence of the event:2021/03/15 2.Company name:Crimson Marine Company 3.Relationship to the Company (please enter ”head office” or ”subsidiaries”):Subsidiaries 4.Reciprocal shareholding ratios:N/A 5.Cause of occurrence: According to IAS 36, Crimson Marine Company recognize the impairment loss on vessel assets of approximately US$10.26 Million. 6.Countermeasures:N/A 7.Any other matters that need to be specified: (1) This is a non-cash impairment loss, and does not have any impact on cash flow and working-capital. (2) This impairment assessment is made by the company, and have not been audited by an independent accountant yet.