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SembMarine posts S$55.62m Q2 net loss

Revenue recognition has yet to kick in from S$730m projects, says yard group CEO

Singapore

SEMBCORP Marine posted a net loss of S$55.62 million for the second quarter on the realised loss from the sale of a semi-submersible rig and lower overall business volume. This is a reversal from a net profit of S$5.12 million for the corresponding quarter a year ago.

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