Aveng warns investors of more pain after Southeast Asia gas project setback
Delayed Batangas LNG project is expected to report a total operating loss of R1.3bn
23 July 2023 - 16:32
Aveng has warned shareholders it expects to swing into a loss for the year ended June 30 2023, citing problems in Southeast Asia, primarily from the Batangas liquefied natural gas (BLNG) terminal project.
The setback comes as the Johannesburg-based construction, engineering and mining group was finally making headway after its restructuring path to exit all its noncore businesses to focus on its two cash-generative core businesses: McConnell Dowell and Moolmans, its mining arm in SA...
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