SINGAPORE (Dec 2): OCBC is maintaining a sell on Sembcorp Marine with a fair value of $1.79 after the rigbuilder issued a profit warning last evening, saying it expects to report a 4Q15 net loss and a significant decline in FY15 net profit.

In the statement, SembMarine attributed this to the challenging operating environment and customers deferring or seeking to defer their rig orders.

In a Wednesday report, lead analyst Low Pei Han says this could be partly due to a profit reversal from the jack-up rig in dispute with Marco Polo Marine (MPM).

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)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook