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Sembcorp Marine lands major credit facility

Shipbuilder Sembcorp Marine gets a big loan from its majority stakeholder, Sembcorp Industries. The credit facility will be used to strengthen the company, which is experiencing major decline on its key market.

Photo: /ritzau/AP/Wong Maye/

Sembcorp Marine strengthens its finances at a time when key markets are seeing a major downturn.

The Singapore-based shipbuilding company receives a large, five-year credit facility of SGD 2 billion (USD 1.48 billion) from its majority stakeholder, Sembcorp Industries, according to a statement.

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