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.
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