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Sembcorp Marine averts Q1 loss with one-off disposal gain

Rigbuilder posts 27.9% fall in net profit to S$39.5m; plans for further reduction of workforce

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Mr Wong says group continues to reallocate "excess manpower" from drilling projects to non-drilling work.

Singapore

RIGBUILDER Sembcorp Marine axed 500 workers in its fiscal first quarter and plans more layoffs, it said on Thursday after a one-off disposal gain rescued it from sinking into the red.

Group chief executive officer and president Wong Weng Sun said in a statement that it

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