The Business Times
business-time-50
SUBSCRIBERS

SembMarine plunges into the red on S$801m provisions

FY15 "has turned out to be one of the toughest years in recent history", says CEO

google-preferred-sourceAdd BT as a preferred source
Published Mon, Feb 15, 2016 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Sembcorp Marine

    Singapore

    YARD group Sembcorp Marine slipped into the red with a fourth quarter net attributable loss of S$536.88 million in FY2015, a reversal from a profit of S$174.05 million in Q4 FY2014, after provisions of S$801 million on rig building contracts and share of losses in other associates and non-operating items.

    Turnover for the quarter was S$1.327 billion, 8.2 per cent lower than S$1.445 billion last year mainly due to lower revenue recognition for rig building projects.

    sembcorp marine

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    DBS filed the bankruptcy application after serving statutory demands to the directors of Autobahn Rent A Car in December 2025.

    Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS

    Loyang Valley sits on a 840,648 sq ft plot of land, which now houses 362 apartments.

    Loyang Valley sold for S$880 million to SingHaiyi-led consortium

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More