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Sembmarine says recapitalisation critical to fix its liquidity needs

Uma Devi

Uma Devi

Published Thu, Aug 6, 2020 · 09:50 PM
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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."

The transaction als…

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