oil and gas

SINGAPORE (Oct 27): Sembcorp Industries reported a drop of 55.9% in 3Q16 earnings to $53.9 million on the back of $13.2 million losses in its marine division and a $46.2 million mark-to-market impairment for Gallant Venture.

SINGAPORE (Oct 27): Sembcorp Marine’s disappointing 3Q16 results has led DBS to reiterate its “fully valued” rating with a lower target price of $1.15 from $1.20.

SINGAPORE (Oct 25): Sembcorp Marine posted a net loss of $21.8 million for 3QFY16, compared with earnings of $32.1 million in 3QFY15.

SINGAPORE (Oct 21): Triyards, the subsidiary of Ezra Holdings that operates yards, reported an increase of 20% for FY16 revenue to US$324.9 million ($451.7 million) and 7% increase for 4QFY16 to US$94.2 million, driven by contributions across the board.

SINGAPORE (Oct 17): EMS Energy Solutions, a subsidiary of EMS Energy, is disposing its property at 10 Tuas Avenue 11 to SPCO Holdings for $5.6 million.

SINGAPORE (Oct 12): Troubled oil and gas services company Swissco announced it will default on its interest payment to noteholders on Oct 16 and will suspend trading with immediate effect.

SINGAPORE (Oct 11): Singapore banks are well positioned to withstand losses from Asia’s oil and gas defaults, says Fitch Ratings.

SINGAPORE (Oct 11): The Singapore Exchange has queried KrisEnergy over its trading activity, its second time in 30 days, noting the unusual price movement of its shares.

SINGAPORE (Oct 10): RHB is downgrading Acromec to “neutral” with a target price of 78 cents, citing a slowdown in government tenders and potential competition from oil and gas engineering companies.

SINGAPORE (Oct 7): UOB Kay Hian is maintaining its “underweight” call for the offshore and marine sector citing flat capex from oil majors despite improved sentiment from OPEC cuts.