SINGAPORE: Singapore-based rig builder Sembcorp Marine Ltd posted a loss in the third quarter on Thursday (Oct 25), and said it expected overall business volume and activity to remain relatively low for the "immediate quarters."
Sembcorp Marine reported a loss of S$29.8 million (US$21.60 million) for the three months ended September, compared with a profit of S$100.7 million in the same period a year ago.
Advertisement Excluding non-recurring items, the company posted a net loss of S$22.8 million.
The company, majority owned by industrial conglomerate Sembcorp Industries Ltd, said "the trend of negative operating profit is expected to continue for the foreseeable quarter."
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