SembMarine says the amalgamation is a result of an ongoing business review to streamline its corporate structure for better management control and operational efficiency.
The move is not expected to have a material impact on SembMarine’s net tangible assets per share and earnings per share for the current financial year ending December 31.
Shares in SembMarine closed 0.2 cent lower, or 1% down at 19.8 cents on September 3.
