Sembcorp Marine stock slides further

Singapore

CONCERNS over Sembcorp Marine's lack of new orders and heightened exposure to troubled Brazilian rig owner Sete Brasil weighed down its stock on Tuesday, a day after the group announced worse-than-expected earnings for January through March.

The counter fell seven cents to S$2.94 on 5.9 million shares traded. This came after its nine-cent slide to S$3.01 on Monday before its first-quarter results were released, though that drop was partly because it went ex-dividend on Monday for a dividend of eight cents.