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Sembcorp Marine Says Resolution On Proposed Rights Issue Passed At EGM
Sembcorp Marine Refers To Proposal To Raise About S$1.5 Bln By Rights Issue
Sembcorp Marine Gets SGX-ST Approval For Proposed Renounceable Underwritten Rights Issue
Sembcorp Marine Ltd is a Singapore-based company, which provides engineering solutions to the global offshore, marine and energy industries. It designs and constructs rigs, floaters, offshore platforms and specialized vessels, as well as in the repair, upgrading and conversion of different ship types. It operates in two segments: rigs & floaters, repairs & upgrades, offshore platforms and specialized shipbuilding, and ship chartering. Its Other operations include bulk trading in marine engineering related products; harbor tug services to port users; collection and treatment of used copper slag, and the processing and distribution of copper slag. Its solutions focus on the areas such as renewables, process, gas, ocean living and advanced drilling rigs. Its customers include energy companies, owners of floating production units, shipping companies and cruise and ferry operators. It operates shipyards and other facilities in Singapore, Indonesia, the United Kingdom, Norway and Brazil.
80 Tuas South Boulevard
Mohd Hassan Marican
Non-Executive and Non-Independent Chairman
Weng Sun Wong
President, Chief Executive Officer, Executive Non-Independent Director
Director - Group Finance
San Lye Chua
Chief Human Resource Officer
Cheng Tat Tan
Chief Risk Officer
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Sembcorp Marine said on Thursday it has agreed to explore a potential combination with Singapore conglomerate Keppel Corp's offshore and marine (O&M) businesses.
Temasek-backed Singapore conglomerate Keppel Corp and Sembcorp Marine are set to begin talks to explore combining their ailing offshore and marine (O&M) businesses, two sources familiar with the matter said on Thursday.
Singapore conglomerate Keppel Corp and Sembcorp Marine are in the process of kicking off talks to explore combining their struggling offshore and marine (O&M) businesses, two sources familiar with the matter said on Thursday.
Shares in Singapore's Keppel Corp <KPLM.SI> fell 13% on Tuesday after Temasek Holdings abandoned its $3 billion offer for the conglomerate by invoking a material adverse change clause following the company's poor financial results.
Singapore's Temasek Holdings stepped in on Monday to support a S$2.1 billion ($1.5 billion) rights issue by Sembcorp Marine <SCMN.SI> as the state investor moves to help the city-state's struggling rig-building sector.
Loss-making Sembcorp Marine on Monday proposed a S$2.1 billion ($1.5 billion) recapitalisation through a rights issue that will be backed by the rig builder's parent firm, Sembcorp Industries, and state investor Temasek Holdings.
Shares in Sembcorp Marine and Sembcorp Industries remained halted for a second day on Friday, prompting speculation among some analysts about a potential deal between the Singapore rigbuilder and its parent company.
* COLLAPSE IN OIL PRICES SIGNIFICANTLY AFFECTED SECURING OF NEW ORDERS FOR FORESEEABLE FUTURE
* ENERGEAN POWER FPSO HULL ARRIVED AT SEMBCORP MARINE ADMIRALTY YARD IN SINGAPORE ON 15 APRIL 2020
Singaporean rig builder Sembcorp Marine Ltd said on Friday a former consultant to the company had been convicted by a federal court in Brazil for corruption, money laundering and participation in a criminal organization.
* LEARNT ON FEB 20 THAT A FORMER CONSULTANT (NOT "BRAZILIAN UNIT'S PRESIDENT") HAS BEEN CONVICTED BY FEDERAL COURTS OF CURITIBA
Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.
* Comes as firm struggling with falling profits (Adds details, context throughout; updates share prices)
Singapore-based rig builder Sembcorp Marine Ltd posted a loss in the third quarter on Thursday, and said it expected overall business volume and activity to remain relatively low for the "immediate quarters."
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.