“This news is positive for SMM,” says CIMB analyst Lim Siew Khee in a report on Monday. “We believe the contracts will materialise by end-2017F or early 2018F, which could excite the market, given the large size.”
SINGAPORE (Sept 19): CIMB Research estimates that Sembcorp Marine could bag contracts worth between US$440 million ($592 million) and US$500 million from US gas company SeaOne Holdings.
SembMarine on Monday signed a letter of intent (LoI) with SeaOne for the design and construction of at least two large Compressed Gas Liquid (CGL) carriers.
