SembMarine plunges into the red for Q3
Rigbuilder incurs S$21.8m net loss for the quarter, compared to S$32.1m profit a year ago; says 8,000 jobs have been axed "throughout 2015 till to date"
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RIGBUILDER Sembcorp Marine (SembMarine) has frozen salaries and slashed thousands more jobs over the past three months, it revealed as it plunged into the red for its third quarter on the back of rig delivery deferment requests from customers amid an industry-wide slowdown.
It also said it was "evaluating various courses of action" related to a rig it was building for Perisai Petroleum Teknologi, a Kuala Lumpur-listed oil and gas contractor that recently defaulted on bond payments, and that its arbitration proceedings against units of troubled rig charter firm Sete Brasil were still ongoing.
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