Sembcorp order book may drop $3.2 bln if Sete contracts canceled
SINGAPORE Feb 15 (Reuters) - Singapore rig-builder Sembcorp Marine's order book will be cut by S$3.2 billion ($2.29 billion) should all seven Sete Brasil contracts be canceled, its chief executive said on Monday.
Provisions linked to Sete Brasil are sufficient to address any potential adverse outcomes from that business, Sembcorp President and CEO Wong Weng Sun told an earnings briefing.
Sembcorp Marine has made impairment and provisions of S$609 million in its financial year 2015 for rig contracts, of which S$329 million relate to Sete Brasil. ($1 = 1.3991 Singapore dollars) (Reporting by Rujun Shen; Editing by Christian Schmollinger)
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