Revenue fell 64.3% to $316.9 million in 3Q17, from $888.0 million a year ago, mainly due to lower revenue recognition for rig building and offshore platforms projects.
SINGAPORE (Oct 31): Sembcorp Marine reported earnings of $2.7 million in the 3Q ended September, reversing out of losses of $21.8 million a year ago.
This was largely attributable to a foreign exchange gain of $31.3 million in 3Q17, compared to a foreign exchange loss of $18.9 million a year ago. The foreign gain in the current quarter arose mainly from the revaluation of liabilities denominated in US dollar to Brazilian real.
