Sembcorp Marine

Re: Sembcorp Marine

Postby winston » Tue Jul 30, 2019 2:02 pm

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BUZZ-Singapore's Sembcorp Marine hits near three-year low on dismal H2 outlook

** Shares of Singaporean rig builder Sembcorp Marine drop as much as 6.3% to S$1.34, their lowest since Nov18, 2016

** Co says it expects losses for second half to be bigger than that of first half this year, after posting Q2 net loss ofS$8.5 million ($6.21 million) [nL4N24U0UB]

** Co blames insufficient new orders for weak H2 forecast

** Says full-year losses expected to be similar in range tolast year's losses of S$74.1 mln

** Sembcorp Marine's financial performance has been subduedover the past few years due to the downturn in the global offshore and marine industry

** Stock posts its biggest intraday pct fall since July 3

** About 8 mln shares change hands, compared with the 30-dayaverage volume of 5.6 mln shares

** Stock down 7.14% this year, as of last close($1 = 1.3693 Singapore dollars)

Source: Reuters
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Re: Sembcorp Marine

Postby behappyalways » Tue Sep 03, 2019 3:46 pm

Sembcorp Marine clinches $400 mil in new contracts
https://www.theedgesingapore.com/news/c ... -contracts
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Re: Sembcorp Marine

Postby behappyalways » Wed Nov 13, 2019 6:22 pm

SembMarine 3Q net loss widens to $52.6 mil; outlook stays bleak
https://www.theedgesingapore.com/capita ... tays-bleak
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Re: Sembcorp Marine

Postby behappyalways » Sat Dec 28, 2019 4:56 pm

SembMarine clinches 2 offshore platform contracts worth over $550 mil
https://www.theedgesingapore.com/news/c ... er-550-mil
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Re: Sembcorp Marine

Postby behappyalways » Tue Feb 04, 2020 10:55 am

Brazilian authorities file money laundering, corruption charges against 2 men linked to Sembcorp Marine
https://www.theedgesingapore.com/news/m ... on-charges
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Re: Sembcorp Marine

Postby winston » Thu Feb 20, 2020 9:12 am

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Sembcorp Marine: Trend of losses to continue this year

Sembcorp Marine (SMM) reported a 32% YoY fall in revenue and a S$78m net loss in 4Q19 compared to net profit of S$6m in 4Q18.

This brought full year net loss to S$137m, vs. S$74m net loss in FY18.

This loss was greater than expected on continued low overall business volume – both us and the street were expecting net loss of S$86m for the year.

Looking ahead, business activity levels remain low for all segments except for repairs and upgrades, which continue to improve, underpinned by IMO regulations that require installation of ballast water treatment systems and gas scrubbers.

Challenges remain, in particular supply chain disruptions due to the COVID-19 virus outbreak, which could affect execution of projects.

Competition remains intense for all business segments.

SMM expects the trend of losses to continue into 2020.

Net order book stands at S$2.44b.

Pending an analyst briefing, we put our Sell rating and fair value estimate of S$1.24 under review.

Source: OCBC
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Re: Sembcorp Marine

Postby behappyalways » Thu Feb 20, 2020 2:42 pm

SembMarine reverses into the red with 4Q net loss of $77.7 mil, expects to book losses in FY20
https://www.theedgesingapore.com/capita ... osses-fy20
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Re: Sembcorp Marine

Postby winston » Tue Jun 09, 2020 9:09 am

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Sembmarine to raise S$2.1b, demerge from parent Sembcorp

SEMBCORP Industries (Sembcorp) and Sembcorp Marine (Sembmarine) have proposed a major plan to rescue the marine giant with a S$2.1 billion cash call and to "demerge" from each other as the pandemic takes a toll on operations.

The plan will strengthen both companies' financial positions and unlock shareholder value and is in the best interests of their respective shareholders, said the companies in a joint statement issued on Monday.

Sembmarine hopes to raise S$2.1 billion under a five-for-one renounceable rights issue at an issue price of 20 Singapore cents per share.

Of that, Sembcorp has irrevocably undertaken to subscribe for S$1.27 billion (its pro-rata entitlement) plus take up an additional S$230 million, if necessary – a total commitment of up to S$1.5 billion.

Sembcorp said it plans to do this by setting off a S$1.5 billion subordinated loan that it had extended to Sembmarine in June 2019. Temasek Holdings has agreed to sub-underwrite the remaining S$600 million of the rights issue.

The rights price represents a 31 per cent discount to the theoretical ex rights price (TERP) based on Sembmarine shares' five-day volume-weighted average price (VWAP) of 74 Singapore cents.

Upon completion of the proposed transaction, Temasek will be a direct and significant shareholder of both firms, owning some 49.3 per cent of Sembcorp and more than 29 per cent of Sembmarine.

Source: Business Times
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Re: Sembcorp Marine

Postby winston » Tue Jun 09, 2020 2:07 pm

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Sembcorp Marine: Finally some new developments

Sembcorp Marine is one of the global leaders in rig building, offshore platforms and specialized shipbuilding and repairs.

Outlook is challenging with the low oil prices and further risks include
1) higher than expected capex requirements and potentially a need to raise funds,
2) risks relating to Brazil, and
3) lower than expected new order flows.

A rights issue and a potential de-merger from parent Sembcorp Industries has been announced.

Should the demerger happen later, there will be change of control event that could impact loans with financial institutions.

However, this may be aided by Temasek coming in as a significant shareholder. Meanwhile, we believe a recovery is still a long way off, given the challenging environment in the industry.

Source: OCBC
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Re: Sembcorp Marine

Postby behappyalways » Fri Jul 17, 2020 2:29 pm

Sembmarine plunges into wider 1H20 net loss of $192 mil amid Covid-19
https://www.theedgesingapore.com/result ... d-covid-19
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