SINGAPORE (THE BUSINESS TIMES) - Sembcorp Industries took a major hit in the first half as its earnings tumbled amid the pandemic with worse to come, it warned on Friday.. Read more at straitstimes.com.
SINGAPORE - Sembcorp Industries took a major hit in the first half as its earnings tumbled amid the pandemic with worse to come, it warned on Friday .
The firm also indicated that more red ink is on the way:"The group expects to incur losses for the full year due to the expected continuing losses at Sembcorp Marine and exceptional items recorded in ."The only unit to report a net profit - $38 million - was its urban segment, which handles projects such as industrial parks and business, commercial and residential spaces in Asia.
"In the second quarter, energy demand in Singapore, India and the UK declined by approximately 5 per cent to 20 per cent compared with the same period last year. The energy segment recorded a $5 million net loss, a drastic reversal from the $177 million net profit it reported in the same period last year.
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