EMAS Offshore sinks into the red in Q1
Singapore
OFFSHORE support services provider EMAS Offshore will keep trying to "streamline" operations and expenses amid an ongoing crude oil slump, it said on Monday after sinking into the red for its first quarter.
It blamed "general weakness" in the offshore industry and a seasonal monsoon in Asia for a sharp drop in revenue, adding in a Singapore Exchange filing that its shallow-water platform support vessels segment continues to remain weak.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly