Sembcorp Marine (SembMarine) says it will be making material provisions in its financial results for the 4QFY2020.

The move, according to SembMarine, will adversely impact the group’s financial results for the 4QFY2020 and FY2020.

<hr/><strong>SEE: <a href="https://www.theedgesingapore.com/news/new-appointments/sembcorp-marines-tan-cheng-tat-reappointed-chief-risk-officer"  target="_blank">Sembcorp Marine's Tan Cheng Tat reappointed as chief risk officer</a></strong><hr/>

On Nov 11, 2020, the group already guided in its 3QFY2020 update that it expects losses to continue into the fourth quarter.

The group’s results will be released on Feb 23.

Shares in SembMarine closed flat at 15.9 cents on Feb 17.

Sembcorp Marine to make material provisions in 4Q20 in profit guidance

Qarbotech named winner of inaugural EQT Impact Challenge

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

The new kings and queens of content

Broker's digest: IHH Healthcare, FLCT, Boustead Singapore, BRC Asia, Starhill Global REIT, MPACT, Kimly

Cultural challenges in business diplomacy with China

Benign STI seen as investors pivot to foreign markets, growth stocks

Tech news in less than 5 minutes – December 2023

Why the return-to-office wave is a wake-up call for businesses  

Developing robust AI strategies

Broadcom CEO expects AI windfall even as sales growth slows

Chip market troubles pose threats after AI euphoria

KKR is shrugging off 'fear in the market' to buy up risky debt

Weekout (Dec 11): Janice Wong, Butcher’s Block, Cat Bite Club, 39+ Art Space

Musée Atelier Audemars Piguet takes visitors on a journey through the cultural legacy of the Swiss manufacturer 

Parmigiani Fleurier CEO Guido Terreni shares insights into the brand’s philosophy

A victory lap for the transitory inflation team

Shopping in the Garden City this Christmas

Singapore in 2024: Stepping into uncharted waters

Matter of time before Straits Times Index stages rally

Seatrium secures FPSO topside modules fabrication contract from MODEC

Yangzijiang Financial to start new ventures with departing CEO Toe; reaffirms buybacks

Is it time to add into S-REITs despite the sector's 7% gain in November?

Seatrium appoints Adrian Teng as new CFO

Sembcorp Marine to make material provisions in 4Q20 in profit guidance

Related News

Highlights

Qarbotech named winner of inaugural EQT Impact Challenge

Related News

Willas-Array expects loss of HK$95.2 mil for 1HFY2024 in profit guidance

Lower 3QFY2023 and 1HFY2024 net losses expected for AsiaPhos and CSC Holdings

Southern Alliance Mining guides for net loss in FY2023