Sembcorp Marine proposes $1.5b rights issue backed by Temasek

Sembcorp Marine proposes $1.5b rights issue backed by Temasek

FILE PHOTO: Members of the media tour are seen on the helipad of Heerema Marine Contractors' Sleipnir, the world’s largest semi-submersible crane vessel, at the Sembcorp Marine shipyard in Singapore, May 23, 2019. REUTERS/Edgar Su

Loss-making Sembcorp Marine unveiled plans for a S$2.1 billion ($1.5 billion) recapitalisation through a rights issue backed by the rig builder’s parent firm, Sembcorp Industries, and state investor Temasek Holdings.