SINGAPORE – Sembcorp Marine (Sembmarine) halted the trading of its shares on Tuesday, pending the release of announcements.

The company called for the trading halt at 8.19am, before the Singapore stock market opened.

Sembmarine shares closed on Monday at 12.7 cents, down 0.1 cent or 0.8 per cent.

After Monday’s market close, the company reported a net loss of $118.3 million for the second half of 2022, significantly narrower than the loss of $523.3 million posted for the same period in 2021.

The marine and offshore engineering group credited this to higher contributions from floater and offshore platform projects, as well as from its repair and upgrade business.

Sembmarine shareholders on Feb 16 voted overwhelmingly for the $4.5 billion merger of the company with Keppel Corp subsidiary Keppel Offshore and Marine.