Sinwa bucks O&M sector's losing streak

Singapore

MARINE supplies-and-logistics services provider Sinwa stands out as the rare Singapore-listed industry player to have stayed profitable in an unfavourable macro environment for the offshore and marine (O&M) sector.

Its chairman Mike Sim noted that, as the industry at large mounts a capital-expenditure reduction exercise, Sinwa is doing the opposite - it is committing about S$11 million towards re-developing a warehouse in Singapore, in support of its expansion into provisioning for cruise ships visiting Singapore.