Sembcorp Marine Surges on Talk of Potential Privatization
- Company reported first loss since 2003 on Brazil troubles
- After earnings, co. warned of tough times for rig builders
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Sembcorp Marine Ltd., which posted its first loss in more than a decade in the fourth quarter, saw its shares jump by the most in nearly a month amid talk that the company could be taken private.
The world’s second-largest builder of oil rigs on Monday reported a net loss of S$537 million ($384 million) for the three months through December, the first quarterly loss since it started reporting data in 2003. The company took impairment charges and provisions of S$609 million for projects of client Sete Brasil Participacoes SA and others.