Tan Kwi Kin News

SembCorp Marine Ltd. (SCM), Singapore's largest ship repairer, posted a small rise in its 2000 net profit, in line with market expectations. SCM, 63 percent owned by conglomerate SembCorp Industries Ltd. with a market value of about S$1.1 billion, said last year's net profit was S$80.16 million, up 2.3 percent from 1999. Its bottom line was boosted by a one time gain of S$6.5 million from the sale of shares in Jurong Technology Industrial Corp. early last year and a writeback of tax over provisions of S$4.7 million. Analysts have a consensus 2000 forecast of S$81.5 million, according to Multex Global Estimates. The forecasts ranged from a low of S$71.5 million to a high of S$86.8 million.