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Major players in the market include Sembcorp Marine Ltd, United Shipbuilding Corporation, Fincantieri S.p.A., China Shipbuilding Industry Corporation, Imabari Shipbuilding Co., Ltd. among others. While plans to split from unit Sembcorp Marine resulted in a flurry of rating upgrades in June, the firm expects to incur a full-year loss this year amid the pandemic. On the upside, SembMarine is currently undertaking $330m of ongoing jobs and new orders secured for its R&U segment during the quarter, noted UOB's Loh. DBS Research . I will prefer to avoid investing in O&M stocks now. 2017-11-02 . If the oil price doesn’t recover, Sembcorp Industries’ Marine sector could see more pain. Sembcorp Marine is a leading global marine and offshore engineering group, specialising in a full spectrum of integrated solutions in ship repair, shipbuilding, ship conversion, rig building and offshore engineering & construction. To avoid confusion, Keppel Corp is the parent company of Keppel Offshore and Marine (KOM), so the merger on the cards is between KOM and SCM. Contact us anonymously through this link. What can Singaporean retailers do to beat the post-pandemic blues? ; We nevertheless continue to see upside over the next 6-12 months given that the company trades at a discount to its regional utilities peers both on a P/B and PE basis. Email: rigsandfloaters@sembmarine.com While plans to split from unit Sembcorp Marine resulted in a flurry of rating upgrades in June, the firm expects to incur a full-year loss this year amid the pandemic. producing oil from land-based fracking is getting cheaper as well, so i dont know why some people still think there's so much potential for SMM to recover to pre-covid levels or even pre-2014 levels I thought sembcorp marine no longer focusing on oil rigs and exploring other alternative business? Sembcorp Marine reiterated that the rights issue will provide it with much-needed recapitalisation to ride out the industry downturn Business Description. The company recently provided a weak Q3 business update, guiding that it has incurred losses in the third quarter and that the losses will continue into Q4. Prior to COVID-19, the company saw R&U revenue increasing sequentially from Q3 2019 to Q1 2020, and thus it is hopeful that this trend can continue. Its recently raised net $600m from its August rights issue places SembMarine in a stronger position compared to six and even 12 months ago. Singapore 637051. The market is expected to reach … Oil rates also remain low, hitting on the sector—and SembMarine's—recovery progress. Oil rates also remain low, hitting on the sector—and SembMarine’s—recovery progress. However, concerns over the economic recovery in some of Sembcorp's biggest markets are emerging, adding pressure to further gains. Furthermore, Sembcorp Marine has said that most of its projects will be delayed into 2021, which is expected to affect its near-term working capital and cash flow. Jan. 23, 1942: NASA's Glenn Research Center is founded, Microsoft Reverses Course On Xbox Live Price Increase, Toshiba regains Tokyo exchange's top category amid calls for better governance, Gabourey Sidibe became bulimic to cope with depression, Communal Table: Broiling, Sopping, Citrus, and Comfort, Man Utd legend Lou Macari proving to be just as much a hero off the pitch as he was on it, This Week in Cars: a Cheaper Taycan, the Golf is Dead, Long Live Stellantis. Sembcorp Industries and Sembcorp Marine (SembMarine) jointly announced today that the recapitalisation of SembMarine through a proposed S$2.1 billion (RM6.43 billion) renounceable rights issue, as well as the proposed demerger between the two companies via a distribution in specie of SembCorp’s stake to SCI shareholders, had been approved by shareholders of both companies in their … Phillip Securities . Sembcorp Marine - DBS Research 2017-11-02: On Recovery Track. Its recently raised net $600m from its August rights issue places SembMarine in a stronger position compared to six and even 12 months ago. "We continue to see multiple headwinds on low order book clarity and [capital expenditure] requirements. UOB's Loh estimates that the lifeline of the $600m will be able to last the company for at least two years, based on forecasts for operating expenses and maintenance capex. On the whole, the outlook for the offshore & marine (O&M) sector remains challenging, according to UOB Kay Hian. 80 Tuas South Boulevard. Analysts on average predict that the stock will rise just 5.1 per cent over the next 12 months, versus an estimated 9.6 per cent gain … Sembcorp Industries said Friday it agreed to provide Sembcorp Marine with a five-year subordinated loan of S$2 billion to strengthen the rig builder’s financial position amid an on-going severe global downturn in the offshore and marine industry. Management also commented that its banks now see the company in an even more positive light given its stronger balance sheet—although it conceded that its cash flow in 2020 will be affected by the delivery delays. Sembcorp Marine - On Recovery Track. We view Sembcorp Marine (SGX:S51) ’s recent strong share-price performance as unjustified as the offshore marine industry remains in bad shape and our bearish outlook remains intact. The market is then expected to recover and grow at a CAGR of 3.3% from 2021 ad reach $32,692.0 million in 2023. Sembcorp Industries’ Share Price and Valuation OCBC Investment Research echoes the same sentiment, saying that SembMarine’s recovery is still likely a long way off and that losses will continue. However, concerns over the economic recovery in some of Sembcorp’s biggest markets are emerging, adding pressure to further gains. It’s lack of new orders and project delays spell continued losses for the company. 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