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SembMarine's Q2 net profit plunges 90%

Revenue declines 25% to S$908.5 million, even as finance costs and other non-operating expenses rise

Mr Wong said "with fewer drilling contracts and surplus of rigs, some drillers continue to be unable to take delivery of newbuild rigs"


SEMBCORP Marine's (SembMarine) earnings plunged 90 per cent for the second quarter, as revenue dropped by a quarter, and finance costs and other non-operating expenses grew.

Net profit for the group fell to S$11.5 million for the three months ended June 30, down from S$

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