SINGAPORE (Oct 27): The offshore & marine sector in Singapore had a tough third quarter and its outlook doesn't look too bright either, judging by UOB Kay Hian's summary of Keppel Corp. and SembCorp Marine's results.

The brokerage notes that Keppel's offshore & marine segment earnings fell 34% on year, while contract wins remained muted and clients requested that orders be delayed.

For SembMarine the situation is no better; net profit slumped in the third quarter, while management has stopped recognising revenue from five drilling jack-up rigs, UOBKH notes.

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