Analysts remain cautious on Sembcorp Marine following deepening net losses in FY20

Analysts from CGS-CIMB Research and OCBC Investment Research (OIR) have continued to maintain “hold” on Sembcorp Marine (SembMarine) after the group revealed that it feel deeper into the red for the FY2020 ended December.

The group, on Feb 23, announced that it registered a $582.5 million loss for the period, compared to the net loss of $137.2 million in the FY2019 due to overall lower revenue as well as asset impairments and provisions recorded in 4QFY2020.