Sembcorp's Q1 earnings fall on thinner energy business profits
Double whammy for group as crude oil price slump takes toll on utilities and marine segments
Singapore
THINNER profits for its energy business dimmed first-quarter earnings for utilities firm Sembcorp Industries, which told a briefing on Thursday that its Singapore power plant business made a loss after factoring in depreciation.
The group, which added that it faces a challenging year ahead, has been handed a double whammy by the crude oil slump since both its major business segments, utilities and marine, are directly affected by the price of oil.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Olam tops Louis Dreyfus’ offer for Australia’s Namoi Cotton as takeover battle heats up
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says
New York Times beats profit estimates on bundle strength
US dollar gains ground; subdued yen prompts Japan warning
Prime US Reit distributable income for Q1 2024 down 19.5% to US$11.9 million
DBS hires chief of Ping An’s tech group to fix outage issues