Shares in Sembcorp Marine have sunk to their lowest level in two months after the company reported a 28% fall in first quarter results.
The Singapore-listed rig builder made a net profit of just SGD 39.5m ($28.3m) due to a decline in rig orders and delayed vessel deliveries.
Sembcorp Marine, which saw first quarter revenue dropped 17% to SGD 760m, said the pace of recovery in the oil and gas sector remains uncertain.
