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SembMarine's management confident of order pipeline despite stiff competition

PC Lee
PC Lee7/23/2018 11:05 AM GMT+08  • 3 min read
SembMarine's management confident of order pipeline despite stiff competition
SINGAPORE (July 23): To stay relevant, Sembcorp Marine is transforming itself to take on large scale EPC (engineering, procurement and construction) projects while offering nimble and compact solutions to customers, says CIMB-CGS Securities.
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SINGAPORE (July 23): To stay relevant, Sembcorp Marine is transforming itself to take on large scale EPC (engineering, procurement and construction) projects while offering nimble and compact solutions to customers, says CIMB-CGS Securities.

It is also scouting for new technology and intellectual property to widen its service offering, preparing for the rig recovery, says CIMB-CGS, with the latest acquisition of Sevan Marine cylindrical rigs is a case in point.

In a Friday report, analyst Lin Siew Khee says CIMB-CGS was right to expect a loss of $20 million-$40 million for 2Q18 as SembMarine posted loss of $55.6 million which included $27 million of one-off loss for the completion of West Rigel sale.

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