Market cap of 23 O&M firms falls 15.7% in a month amid oil rout
Singapore
DECLINING oil prices have wiped off nearly S$5.77 billion from the market capitalisation of offshore and marine (O&M) companies listed on Singapore Exchange (SGX) in one month, as the industry begins to feel the impact of lower crude prices. According to data compiled by The Business Times of 23 key O&M companies, their combined market cap declined from S$36.86 billion on Nov 4 to S$31.09 billion on Dec 4, marking a 15.7 per cent loss of their total market cap over this period.
Singapore's two largest rig-builders, Keppel Corporation and Sembcorp Marine, saw the biggest amounts of market cap wiped off, losing S$2.3 billion and S$1.5 billion respectively. Their combined loss makes up two-thirds of the S$5.77 billion market-cap loss of the 23 O&M companies. Swiber Holdings and Ezra Holdings lost the most in terms of proportions of their market cap though - 29.1 per cent and 25.4 per cent respectively - during the month.
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