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SembMarine denies that its PPL yards are up for sale

Singapore

MAINBOARD-listed yard group Sembcorp Marine said neither its rig-building subsidiary PPL Shipyard nor any of the yards from which PPL is operating are up for sale.

SembMarine is understood to have sought valuation for one or more of PPL Shipyard's waterfront assets, sparking market talk over its plans for its rig-building subsidiary.

Asset valuations are typically done when owners are evaluating financial options, including divestment.

A SembMarine spokesman, responding to an enquiry from The...

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