Singapore shipyards bag S$4.9b in new orders despite dive in demand
Marine industry chief calls for prudence, 'rightsizing', and R&D investment
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Singapore
SINGAPORE shipyards secured S$4.9 billion in new orders during 2015, demonstrating the willingness of some offshore and marine (O&M) players to invest and build up capabilities and capacities for the longer term despite the global economic downturn and uncertain market environment.
Association of Singapore Marine Industries (ASMI) president Chow Yew Yuen cited the data point in his report on the Singapore marine industry's performance in 2015.
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