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Sembmarine to incur wider net losses in 2020, 2021: UOBKH

Broker's Calls

Sembmarine to incur wider net losses in 2020, 2021: UOBKH

Jeffrey Tan Published on Mon, Jul 20, 2020 / 12:51 PM GMT+8

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SINGAPORE (July 20): Sembcorp Marine (Sembmarine) is forecast to incur wider net losses of $261 million this year and $55 million next year, according to UOB KayHian.

These come as the company’s local yards have yet to resume full operations amid a prolonged downturn in the oil industry.

Sembmarine’s workforce is down to just 1,000 workers from 20,000 workers – including a significant number of subcontractors – working at its yards.

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