Singapore rigbuilders may post negative to muted earnings growth for FY2011

Meanwhile, Singapore yards are looking good beyond 2011, said DBS.

All the shipyards under their coverage posted FY10 results which beat their expectations along with the expectations of the market.

This was mainly on productivity gains, better pricing and cost management.

On the other hand, Singapore rigbuilders, on a recovering backlog, may post negative to muted earnings growth for FY2011, before setting on their growth paths from FY2012.

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