O&M counters taking big impairment hit
Yet some question whether the writedowns are deep enough; they believe that the bloodletting in the sector is not done yet
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Singapore
TO those who say that Singapore's beleaguered offshore and marine (O&M) sector has arrived at an inflection point, M3 Marine's chief executive, Mike Meade has this sobering rebuttal: "We may be at the bottom of the cycle, but we are certainly not at the bottom of the clean-up."
Several others share this view that there is more bloodletting to come, and that it is not time for the industry here to celebrate just yet - despite many listed companies having bitten the bullet and taken on huge impairments.
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