Corporate digest

Sembcorp Marine (Sembmarine)

The marine and offshore engineering group on Wednesday morning gave notice of recording three consecutive years of pre-tax losses based on its audited full-year consolidated accounts. For the full year ended Dec 31, 2020, the group's net loss had widened to S$582.5 million from S$137.2 million a year ago.

As its six-month average daily market cap as at March 30, 2021 was S$1.89 billion, it still meets the financial entry criteria to avoid being placed on the Singapore Exchange's watch list.

Last year, Sembmarine also issued notice that it had recorded pre-tax losses for three consecutive years. Its six-monthly average daily market capitalisation at the time was S$2.46 billion as at April 2, 2020.

ComfortDelGro

The transport operator has partnered French energy company Engie to jointly bid for electric vehicle (EV) charging tenders, and explore and deploy clean energy solutions, the firms said in a joint release on Wednesday. The two parties have jointly submitted a bid for a pilot tender, called by the Urban Redevelopment Authority and the Land Transportation Authority, for the installation and operation of more than 600 EV charging points at over 200 public car parks.

Separately, the firms will also build charging farms, powered by renewable energy, on ComfortDelGro premises.

ST Engineering

ST Engineering's proposed buyout of New York-listed Cubic Corporation has fallen through, with Cubic instead accepting a proposal from Veritas Capital and Evergreen Coast Capital Corporation to raise their offer to US$75 per share in cash.

On Tuesday, ST Engineering had raised its offer to US$78 per share, from US$76 before.

Cubic said its board "gave due consideration" to this, but "determined that, based on the superior certainty and anticipated timing of closing the existing transaction with Veritas and Evergreen, the revised proposal from Veritas and Evergreen was in the best interests of all Cubic's shareholders".