Sembcorp Marine sinks to the red amid low activity levels

Singapore’s offshore rig builder Sembcorp Marine posted a bigger loss for 2019 when compared to 2018. Quarterly, the company went from black to the red as its revenues dropped by 32% amid low activity levels. 

Sembcorp Marine on Thursday posted a net loss of S$137 million for the 12 months ended December 31, 2019, compared with the net loss of S$74 million for FY 2018.

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