Expect dismal results from both rigbuilders.
As the fourth quarter earnings season rolls in, Singapore’s largest rigbuilders will learn the hard way that it doesn’t pay to expand too far afield.
With threats of Sete Brasil’s imminent bankruptcy hanging over their heads, both Keppel Corporation and Sembcorp Marine are expected to report significantly lower profits for the fourth quarter.
A report by Bloomberg revealed that Keppel Corporation is expected to post its lowest annual profit in seven years when it reports on Thursday, while Sembcorp is forecasted to post a fourth-quarter loss and a drastic drop in net profit.
Read the full report here.
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