Wednesday, February 23, 2011

SembCorp Marine (SMM SP): The world’s second-biggest builder of oil rigs

SembCorp Marine (SMM SP): The world’s second-biggest builder of oil rigs will announce fourth-quarter earnings tomorrow. The company is expected to report net income of $171 million, according to the average estimate of four analysts compiled by Bloomberg. That compares with $297 million a year ago. The shares declined 2.4% to $5.21.

SembCorp Industries (SCI SP): The Singapore-based conglomerate that gets about 37% of revenue from utilities said it awarded to units of Alstom SA a $900 million contract for the construction of its second co-generation electricity-generating facility on Jurong Island, the city’s petrochemical hub. The stock slipped 1.2% to $4.83.
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