Analysts from CGS-CIMB Research and UOB Kay Hian are negative on Sembcorp Marine (SembMarine) after the group posted a net loss of $647.2 million for the 1HFY2021 ended June on July 29.

CGS-CIMB analyst Lim Siew Khee has kept “hold” on the counter with a much lower target price of 9.3 cents from 22.6 cents previously, adjusted for the issuance of its rights shares.

To Lim, investors may still be disappointed at the deeper-than-expected loss despite the group’s previous guidance that its loss for the 1HFY2021 may be wider than the losses posted in the FY2020.

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