Brokers' take

Sembcorp Marine | Hold Target price: S$1.61 April 6 close: S$1.855 UOB Kay Hian, April 6

TRANSOCEAN is rumoured to be acquiring the West Rigel. The West Rigel is a US$568 million harsh environment semi-submersible ordered by North Atlantic Drilling (NADL) in 2012. It is held by Sembcorp Marine (SMM) and NADL in a 77:23 joint venture as part of a standstill agreement in end-2015. Materialisation of the deal will be a huge boon to SMM as it removes a risky, sizeable ord…