On behalf of subsidiaries-Crimson Marine Company: Recognize the impairment provision on Vessel “Georgiana”.

On behalf of subsidiaries-Crimson Marine Company: Recognize the impairment provision on Vessel “Georgiana”.
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.