SembCorp To Post Modest Gains

Friday, February 09, 2001
SembCorp Marine, Singapore's largest ship repairer, is expected to post a modest rise in 2000 earnings, boosted mainly by gains from divestment of a small technology company.

SembCorp Marine, a unit of government-linked SembCorp Industries with a market value of about S$1.1 billion ($630 million), is due to report its earnings on Tuesday.

Analysts said they expected SembCorp Marine to fare much better than its smaller rival Keppel Hitachi, which reported a 50 percent slide in 2000 earnings due to a weak ship repair market.

"SembCorp Marine has a lot more long-term contracts with customers like NOL (Neptune Orient Lines), so that has helped them," said an analyst at Kim Eng Securities.

The analyst is forecasting a four percent rise in net profit to S$82.1 million from S$79 million in 1999.

Analysts have a consensus 2000 forecast of S$81.5 million, according to Multex Global Estimates. The forecasts range from a low of S$71.5 million to a high of S$86.8 million.

The analyst continued that SembCorp Marine's net profit included an investment gain of S$6.1 million which it recorded in its interim results from the sale of shares in Jurong Technology Industrial Corp early last year.

Without the gain from Jurong Tech, group profit would have declined five percent, he said. Analysts, who mostly have a buy on SembCorp Marine due to the cheap valuation of its stock trading at 14 times earnings, expect the outlook for ship repair to pick up this year.

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1437 sec (7 req/sec)