Singapore's Sembcorp Marine Q3 tumbles as rig projects fall short

[SINGAPORE] Singapore's Sembcorp Marine Ltd said on Thursday its third-quarter net profit shrunk 76 per cent on the year due to lower contribution from rig building projects.

Sembcorp Marine, one of the world's largest offshore drilling rig producers, posted a net profit of S$32.1 million from revenue of S$1.1 bilion, which fell over a third on the year.

REUTERS