This will improve its balance sheet profile, putting prior concerns of a stretched balance sheet to rest.
SINGAPORE (Dec 4): UOB KayHian is maintaining its “buy” call on Sembcorp Marine with an unchanged target price of $2.10 on news of a potential sale of West Rigel rig.
“An improving rig market, especially for harsh environment semi-submersibles, will likely see SembMarine being able to divest the West Rigel at a favourable price,” says lead analyst Foo Zhi Wei in a Monday report.
