SembCorp Sees Profits Rise, Eyes Business Abroad

Shipyard operator SembCorp Marine Ltd. posted a 9.6 percent rise in 1999 net profit to $46.5 million and expects to maintain profitability this year. SembCorp, which owns Southeast Asia’s largest shipyard of 1.8 million dwt capacity, also unveiled that it has budgeted $50 million to buy a major shipyard in China and $10 million for a venture in Brazil to sharpen its competitive edge.