Consolidation in offshore and marine sector will be good for industry: Analysts

SINGAPORE - A consolidation in Singapore's offshore and marine sector will give local companies a better chance to stand up to growing global competition.

The deal will give Temasek a 51 per cent controlling stake in Keppel, which Keppel Offshore and Marine is a part of. CMC Markets analyst Margaret Yang said:"Temasek is in a very strong position to introduce M&A among these companies, pending the completion of the Keppel deal." "Given Temasek's strong hand in all three entities, Sembcorp, Keppel and ST Engineering, they have the ability to bring all three units together," he said, pointing out that Temasek already owns a controlling stake in ST Engineering.

KGI Securities Singapore research head Joel Ng said the merger between Keppel O&M and Sembcorp Marine can make better use of Singapore's scarce waterfront.Analysts said that the changes will also give Singapore companies a better fighting chance against the new bigger boys on a global level. Mr Chua said that a merger will give the companies a good chance in going up against the competition.

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