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.

SEE: Sembcorp Marine's Tan Cheng Tat reappointed as chief risk officer

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.

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