Brief: KS Energy Updates On Impact Of COVID-19 On Ops

KS Energy

23/04/2020 16:08

April 23 (Reuters) - KS Energy Ltd  KSTL.SI :
    * KS ENERGY LTD-  IMPLEMENTED OVERALL 30% REDUCTION IN PAY
OF
SENIOR EXECUTIVES FROM MARCH
    * KS ENERGY LTD - SUPPLY CHAIN IN VIETNAM HAS NOT BEEN
SIGNIFICANTLY DISRUPTED
    * KS ENERGY LTD- NOW ONLY ANTICIPATES GENERATING POSITIVE
CASH
FLOWS FROM EXISTING CONTRACTS & NOT PROSPECTIVE CONTRACTS FOR
REMAINDER OF YEAR
    * KS ENERGY LTD - CONTINUES TO NEGOTIATE WITH FINANCIAL
INSTITUTION TO RESTRUCTURE BANK LOANS
    * KS ENERGY LTD - NOT EXPECTING ANY PROSPECTIVE CONTRACTS
FOR
REMAINDER OF YEAR
    * KS ENERGY- CURRENTLY ANTICIPATES RECOGNISING IMPAIRMENT
LOSS OF
AROUND US$3.3 MILLION FOR 3 MONTHS

Source text for Eikon:  ID:nSNZ1RY9Cy 
Further company coverage:  KSTL.SI 

 ((Reuters.Briefs@thomsonreuters.com;))