SembMarine is up 0.6% at $4.98, outperforming the STI’s 0.1% decline and peer Keppel’s 0.2% fall, likely getting a sentiment fillip from signing a letter of intent to build a semi-submersible accommodation rig for Prosafe.
But the LOI isn’t a surprise as Prosafe had an option for the rig, an analyst says. The LOI isn’t expected to affect earnings forecasts, she adds.
Orderbook quotes suggest the stock may struggle to reach the psychological $5.00 boundary.
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