Shares in Singapore's Sembcorp Marine slide after weak profit guidance

SINGAPORE (REUTERS) - Shares in Singapore's Sembcorp Marine slipped as much as 5.3 per cent to more than 6-1/2-year low on Wednesday (Dec 2) after the rig builder issued a weak fourth-quarter guidance.

Sembcorp Marine, one of the world's largest offshore drilling rig builders, said on Tuesday it expected to post a record net loss for the fourth quarter.

In a separate statement, the company said it had commenced an action against Marco Polo Drilling (I), a subsidiary of Marco Polo Marine, as the two have been locked in a dispute over a rig order.

At 10am, SembMarine had fallen 9.5 cents or 4.6 per cent to $1.965.