Sembcorp's Q1 earnings fall on thinner energy business profits

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.