SINGAPORE (March 2): UOB Kay Hian has kept its “buy” call on Sembcorp Industries with a target price of $3.80.

UOB says Sembcorp Marine, hit by low oil prices, may continue to be a potential "drag" on its parent, Sembcorp Industries, says UOB.

The broker says “possible provisions and a potential cash call” from the marine business can weigh on earnings of Sembcorp Industries, a dominant player in offshore oil & gas heavy engineering and the power sector.

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