Sembcorp expects lower performance for energy business due to fall in demand and prices

SINGAPORE - Utilities and marine group Sembcorp Industries expects the performance of its energy business to be markedly lower than last year due to reduced demand and falling prices.

Power demand in Singapore, India and Britain declined by about 10 to 25 per cent in April compared with the same month last year, the company noted. The effects of the pandemic and low oil prices on projects' final investment decisions will continue to hit new orders in coming quarters, it added.

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