Sembcorp Joins Keppel With Profit Plunge as Oil Damps DemandBy and
Slashes FY16 capital expenditure to half of previous year’s
To focus on costs, balance sheet during ‘challenging times’
Sembcorp Marine Ltd., the world’s second-biggest builder of oil rigs, joined its larger rival Keppel Corp. in reporting a profit slump last quarter as projects were deferred or canceled due to low crude oil prices. Shares fell.
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