Sembcorp Industries reports 3Q19 net profit fell 13% on-year to S$71 million as the energy segment’s contributions fell and the marine unit posted losses.
SembMarine reported Wednesday its 3Q19 net loss widened to S$52.51M, mainly on additional costs for projects and continued low overall business volume.
Sembcorp Marine said Friday it won a contract from Shell Offshore to build and integrate the topside and hull of a floating production unit (FPU).
Temasek’s bid to increase its stake in Keppel Corp. will push the market to focus on multiple restructuring scenarios, UBS said in a note Monday.
Keppel’s shares surged Tuesday after Temasek launched a S$7.35 a share bid to increase its stake in the property and rig building conglomerate.
Temasek’s bid to increase its Keppel stake has spurred renewed speculation from analysts that Keppel’s O&M division might be merged with SembMarine.
SembMarine told SGX Monday it wasn’t aware of any information to explain its share price surge, but pointed at Temasek’s partial bid for Keppel’s shares.
These are Singapore companies which may be in focus on Thursday, 10 October 2019: Frasers Property, Keppel DC REIT, SGX, SembMarine and POSH.
Sembcorp Marine said Monday it has reached a settlement with Sete Brasil over contracts for seven drillships with a total contract price of US$5.6 billion.
Sembcorp Marine said Monday it obtained S$400 million in new contracts, including offshore gas and wind farm developments and cruise ship upgrades.
Daiwa said a “persistent lack of new orders” could spur a consolidation between SembMarine and peer, Keppel O&M, driven by common shareholder, Temasek.
CGS-CIMB downgraded Sembcorp Marine to Reduce from Add, saying it was “throwing in the towel for now.”