SembMarine denies that its PPL yards are up for sale
Singapore
MAINBOARD-listed yard group Sembcorp Marine said neither its rig-building subsidiary PPL Shipyard nor any of the yards from which PPL is operating are up for sale.
SembMarine is understood to have sought valuation for one or more of PPL Shipyard's waterfront assets, sparking market talk over its plans for its rig-building subsidiary.
Asset valuations are typically done when owners are evaluating financial options, including divestment.
A SembMarine spokesman, responding to an enquiry from The Business Times, denied that the yard group is putting up PP…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade