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Sembcorp posts 10% fall in Q4 profit as marine unit drags; to pay out 2 Singapore cents/shareSEMBCORP Industries posted a 10 per cent fall in net profit for the fiscal fourth-quarter from a year ago, dragged by the marine business, the company said on Thursday. Read more at The Business Times.
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Hot stock: SembMarine shares rise despite Q4 profit tumbleSHARES of Sembcorp Marine traded higher on Wednesday despite the offshore engineering group's Q4 profit sharp drop, as analysts say the results beat their expectations. Read more at The Business Times.
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AusGroup to buy housing space for marine workers on Australia's Melville Island for A$11.8mAUSGROUP Ltd - a construction and marine services provider - plans to buy an accommodation area worth A$11.8 million (S$11.4 million) that houses staff working in the marine industry in a part of Australia. Read more at The Business Times.
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SembMarine Q4 net profit sinks 94.9% to S$5.9mOFFSHORE engineering group Sembcorp Marine saw net profit for the fourth quarter tumble 94.9 per cent to S$5.9 million from S$117.3 million a year ago on “continued low overall business volume”, impairment of an asset and accelerated depreciation costs. Read more at The Business Times.
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USP Group to sell biofuel unit in S$6m dealUSP Group plans to sell its biofuel unit to raise cash and focus on its marine business, the loss-making company announced on Wednesday evening. Read more at The Business Times.
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