SINGAPORE (Feb 1): OCBC is maintaining its “sell” call on Sembcorp Marine and cutting its fair value to $1.17 from $1.79.

“Although there are hopes that a buy-out of SembMarine may take place, we are unsure of the timing and pricing should an offer surface,” says lead analyst Low Pei Han in a Friday note.

Low says the fate of the seven Sete Brasil drillships is still hanging by a thread, and the offshore market lacks signs of a recovery.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook