Worse, the company is witnessing delivery delays into 2021, which will negatively impact its near-term working capital and cash flow, the brokerage warns.
Investors, who are turning bullish on Sembcorp Marine (Sembmarine) given the positive Covid-19 vaccine news, may need to dial down their optimism.
Sembmarine’s financials are likely to deteriorate further given that it has not won new orders this year, according to UOB KayHian.
