Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,726.13
    +1,641.95 (+2.38%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,251.72
    +3.23 (+0.06%)
     
  • Dow

    39,769.69
    +9.61 (+0.02%)
     
  • Nasdaq

    16,380.71
    -18.82 (-0.11%)
     
  • Gold

    2,239.40
    +26.70 (+1.21%)
     
  • Crude Oil

    82.80
    +1.45 (+1.78%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Singapore's Sembcorp Marine posts Q2 loss, sees H2 worsen

SINGAPORE, July 30 (Reuters) - Singaporean rig builder Sembcorp Marine on Tuesday posted a narrower second-quarter loss, but said it expected losses for the second half of the year to be higher than the first half, citing insufficient new orders.

The company reported a net loss of S$8.5 million ($6.2 million) for the second quarter, compared with a loss of S$55.6 million a year ago. Revenue more than halved to S$731.3 million.

Sembcorp Marine's financial performance has been subdued over the past few years due to the downturn in the global offshore and marine industry. On Tuesday, it said it expected full-year losses to be similar in range to last year.

In early July, the company said authorities had searched its shipyard in Brazil as part of a graft investigation. The company also lodged a suspicious transaction report related to the former president of the shipyard with Singapore's white-collar crime police unit, citing the Brazil probe. ($1 = 1.3702 Singapore dollars) (Reporting by Aradhana Aravindan; editing by Richard Pullin)