SembMarine says recovery for firm could come later this year or 2020

Singapore

SEMBCORP Marine chairman Mohd Hassan Marican at Tuesday's annual general meeting flagged that the company may be approaching the bottom of "a very long downcycle", and recovery could come as soon as later this year or in 2020.

He also stressed that the group has shifted from fabrication and pure construction work to gradually becoming a marine engineering solutions provider, with a bias towards gas solutions.

It is now doing higher-value work such as developing engineering solutions for more demandin…