Sembcorp Marine to make provision in light of 'adverse' impact on Q4 results

Sharanya Pillai

Published Wed, Feb 17, 2021 · 10:31 PM

SEMBCORP Marine (SembMarine) will make material provisions in its results for Q4 ended December, which will have an "adverse impact" on its performance for the quarter and the full year, the mainboard-listed company said in a Wednesday filing.

SembMarine had previously announced on Nov 11 that it was expecting losses to continue into Q4. The firm has since carried out a review of its assets and the assumptions used in the assessment of the carrying values of the assets of the Group, including for fixed assets and inventories.

SembMarine is now finalising its full-year results and will release them on Feb 23.

Shares of SembMarine closed at S$0.159 on Wednesday, down 1.24 per cent, before the announcement.