SINGAPORE (THE BUSINESS TIMES) – Marine and offshore engineering group Sembcorp Marine (Sembmarine) on Tuesday (March 29) gave discover that it recorded three consecutive years of pre-tax losses, primarily based on its audited full-year consolidated accounts.
The group’s six-month common every day market capitalisation was $2.64 billion as at March 28, which implies the group nonetheless meets the monetary entry standards to keep away from being positioned on the Singapore Exchange’s (SGX) watchlist.
Firms are positioned on the SGX watchlist in the event that they file losses for the three newest consecutive monetary years and have a mean every day market cap of below $40 million during the last six months.
Prior to its announcement, Sembmarine shares had ended Monday at a seven-month excessive of 10.3 cents, up 0.9 cent, or 9.6 per cent.
On March 23, the group introduced that its wholly owned subsidiary received a contract to assemble a wind turbine set up vessel. It didn’t disclose the worth of the contract.
In February, Sembmarine posted a internet lack of $523.3 million for its second half ended December 2021, widening from a $390.4 million loss a 12 months earlier, as challenges from the Covid-19 pandemic weighed on its operations.
Sembmarine has been issuing notices for 3 consecutive years of pre-tax losses for the previous two years. Its six-monthly common every day market capitalisation was $1.9 billion as at March 30, 2021, and $2.4 billion as at April 2, 2020.
The post Sembmarine records 3 straight years of losses but meets criteria to avoid watchlist first appeared on Umorr.
