Sembmarine says recapitalisation critical to fix its liquidity needs

Singapore

SEMBCORP Marine (SMM) has reiterated to investors that it badly needs the funds from a proposed S$2.1 billion recapitalisation.

In a filing on Thursday, SMM said: "If shareholders do not approve the transaction, SMM's strenuous efforts to recapitalise and strengthen its balance sheet will be negated and the critical need to address our liquidity requirements will fail."