$Seatrium (S51.SG)$ Report from Lim & Tan. It marked the sai...

Report from Lim & Tan.

It marked the sailaway of the final unit of three identical fully battery-operated roll-on/roll-off passenger ("Ropax") ferries, following the vessel's handover to Norwegian ferry operator Norled AS. The vessel, Leikanger, marks the third and final Ropax unit built for Norled by the Group, following the handover of the sister vessels Hella and Dragsvik, which sailed off in Mar and Jul last year.

Sembcorp Marine's market cap stands at SGD4.2 b, is loss making, and currently trades at 1.1x PB. SMM does not pay dividends and consensus tp stands at 0.14. With limited upside, they rate SMM: At Best A "HOLD".