SembCorp Marine *Official* (SGX: S51)

addict951

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Eh how ar?
.083 nao

higher than Temasick‘s lame duck .08 offer leh :o
 

Perisher

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don't see why it chiong, any news?
 

cuntzbuster

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The Group continues to focus on the safe and timely execution of its existing order book as at end 3Q2021 of over S$1.42 billion, including S$0.18 billion of ongoing repairs and upgrades for delivery by 2022.

The above have resulted in further delays and increased projected costs to complete these projects over the next three to nine months. Of the 16 projects under execution by the Group, five projects have been further delayed by between one and three months. The Group is therefore likely to incur further cost overruns of a material amount and is currently in negotiations with its counterparties and taking other measures to mitigate these cost overruns.

Based on information currently available, the Group expects that the increased costs to complete the projects, as well as the losses arising from the added delays, will result in significant losses for 2H2021, which could potentially be in the range of the losses reported for 1H2021. The Group will only be able to quantify the actual losses closer to the end of the financial year ending 31 December 2021, as much will also depend on the performance of the Group in the last quarter of 2021.
 

DrMichaelBurry

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Eh how ar?
.083 nao

higher than Temasick‘s lame duck .08 offer leh :o
That Temasek offer was probably making the market maintain the price at around .08 for some time now. Good to see that it's at least going up by a bit now.
 

cuntzbuster

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RECEIPT OF NOTICE OF ARBITRATION Singapore, 24 December 2021 – Sembcorp Marine Ltd (the “Company”) wishes to inform that its wholly-owned subsidiary, Jurong Shipyard Pte Ltd (“JSPL”) has received a notice of commencement of four arbitrations from a vendor (the “Vendor”) under four separate contracts for the supply of certain equipment for some of its projects. JSPL maintains that the contracts for the supply of equipment were validly suspended or terminated. Parties have been in discussions over the payment claims from the Vendor for such suspension or termination, but have yet to reach an agreement. The Vendor has now commenced arbitration proceedings making allegations of breach and for payment. The amounts purportedly claimed are for invoices of approximately USD76 million plus other costs and interests under the four contracts, all of which remain to be proved by the Vendor. JSPL has engaged legal advisers for the four arbitrations proceedings and will defend all claims made against it. The Company will provide updates on material developments on this matter as appropriate.
:confused:
 

cuntzbuster

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Sembcorp Marine Sembcorp Marine: S51 0% : The marine and offshore engineering group's wholly owned subsidiary PPL Shipyard has agreed in principle to defer US$800 million in receivables from Borr Drilling for 2 years, from 2023 to 2025. This is to give Borr Drilling more time to leverage on the improving industry outlook to generate more operating cash flow to meet its debt service obligations and further strengthen its balance sheet, the mainboard-listed company said. Shares of Sembcorp Marine closed flat at S$0.082 on Monday (Dec 27).

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demoforce1

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Sembcorp Marine Sembcorp Marine: S51 0% : The marine and offshore engineering group's wholly owned subsidiary PPL Shipyard has agreed in principle to defer US$800 million in receivables from Borr Drilling for 2 years, from 2023 to 2025. This is to give Borr Drilling more time to leverage on the improving industry outlook to generate more operating cash flow to meet its debt service obligations and further strengthen its balance sheet, the mainboard-listed company said. Shares of Sembcorp Marine closed flat at S$0.082 on Monday (Dec 27).

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they are so nice !
 
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