Morning business news round-up for June 2, 2014

Sembcorp Marine buys 12 per cent stake in LNG terminal firm. The Singapore-listed marine and offshore engineering group will pay US$4 million (S$5 million) for the stake, which "represents a new business venture" for the group. - PHOTO: BLOOMBER
Sembcorp Marine buys 12 per cent stake in LNG terminal firm. The Singapore-listed marine and offshore engineering group will pay US$4 million (S$5 million) for the stake, which "represents a new business venture" for the group. - PHOTO: BLOOMBERG

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Fewer prompt payments by Singapore companies in Q1. Only 51.92 per cent of payments in the first three months of this year were made on time, down from 57.73 per cent in the fourth quarter of last year, according to a report on Monday.

2. Swiber Holdings bags $100m Latin America contract. This brings the total value of contracts clinched by the Singapore-listed group to US$315 million so far this year, it said.

3. Sembcorp Marine buys 12 per cent stake in LNG terminal firm. The Singapore-listed marine and offshore engineering group will pay US$4 million (S$5 million) for the stake, which "represents a new business venture" for the group.