Keppel, Sembcorp take another hit

Singapore

SINGAPORE's rigbuilding giants Keppel Corporation and Sembcorp Marine have each lost close to S$2 billion in market capitalisation over a month as oil and gas stocks tumbled on the Singapore Exchange again on Wednesday after a respite on Tuesday.

Brent crude oil price fell to just above US$70 a barrel at about 6pm (Singapore time) on Wednesday. This came after it gained 3-4 per cent the previous day in a rebound from its five-year lows on Monday.