SembMarine may turn in operating profits in 2019 as work ramps up

Singapore

NOW that a large chunk of projects on Sembcorp Marine's multi-billion-dollar order book is under construction, its management is optimistic that the large-cap offshore and marine group may turn profitable at the operating level next year.

President and chief executive, Wong Weng Sun, in an exclusive interview with The Business Times, flagged one positive sign: that is, the group's operating losses have been "trending down". "There is a chance next year that operating margins may turn positive," he added.

SembMarine, which operates the largest yard in Singapore, first slipped into the red with an operating loss in the second quarter, but it …