Sembmarine expects ‘significantly better’ H1, yet to feel inflation’s heat
SEMBCORP Marine : S51 0% (Sembmarine) has yet to feel the heat from elevated prices on its businesses as a vast majority of its projects are near completion, according to its president and chief executive Wong Weng Sun.
“(However), going forward, we are mindful and aware of potential inflation. So, in a way, we cost up our projects as well as the bidding price of our projects to factor in inflation to the extent we consider appropriate,” he said at a media and analyst briefing on Sembmarine’s first-quarter business update on Wednesday (May 18).
“For new projects, as we work towards converting actively some of our pipeline potentially into orders, we do have inflation taken into consideration. To the extent (that’s) workable, there will be within the tender specs, such inflation impact taken into account as well. It is important especially for new projects that we are tendering,” he added.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%