SembMarine to sell 30% stake in Cosco Shipyard for 1.06b yuan
Apart from improving liquidity, this divestment also removes any overhang of further write-downs/ losses to be incurred at the associate level.
The weekly chart of Sembcorp Marine show that it is on a gradual up-trend.
The current technical support for Sembcorp Marine is at $1.31 and next support is at $1.23/
Near-term resistance is at $1.36 and next level is at $1.40.
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