May 13, 2020 / 12:02 AM / 16 days ago

BRIEF-Sembcorp Marine Sees Previous Trend Of Losses To Continue In Foreseeable Quarters

May 13 (Reuters) - Sembcorp Marine Ltd:

* COLLAPSE IN OIL PRICES SIGNIFICANTLY AFFECTED SECURING OF NEW ORDERS FOR FORESEEABLE FUTURE

* INDUSTRY-WIDE CUTS IN CAPEX AFFECTED GROUP’S ONGOING NEGOTIATIONS & FINALISATION OF NEW ORDERS

* OVERALL BUSINESS VOLUMES FOR ALL SEGMENTS EXPECTED TO FURTHER WEAKEN FOR REST OF YEAR

* COVID-19 HAS RESULTED IN DELAYS IN EXECUTION AND COMPLETION OF EXISTING PROJECTS

* GENERATED POSITIVE CASH FLOW FROM OPERATIONS IN 1Q 2020

* EFFECTS OF COVID-19 AND LOW OIL PRICES WILL CONTINUE TO ADVERSELY AFFECT NEW ORDERS IN FORESEEABLE QUARTERS

* SEES PREVIOUS TREND OF LOSSES TO CONTINUE IN FORESEEABLE QUARTERS Source text for Eikon: Further company coverage:

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