SembMarine’s US$145 mil addition to orderbook within expectations
Michelle Zhu • • 2 min read
SINGAPORE (Sept 12): CIMB Research is maintaining “neutral” on Sembcorp Marine (SembMarine) with an unchanged price target of $1.65, which is based on 1.3 times price-to-book value (P/BV) -- the stock’s average P/BV before early-2010’s crude oi
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SINGAPORE (Sept 12): CIMB Research is maintaining “neutral” on Sembcorp Marine (SembMarine) with an unchanged price target of $1.65, which is based on 1.3 times price-to-book value (P/BV) – the stock’s average P/BV before early-2010’s crude oil price rally.
This follows yesterday’s news of the marine and offshore engineering group’s wholly-owned Brazilian subsidiary, Estaleiro Jurong Aracruz, securing US$145 million ($194.7 million) worth of hull carry over works (hull COW) from Tupi BV.
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