Seatrium posts loss of US$1.25bil in second half

Seatrium’s revenue surged by more than 400% during the second half of financial year 2023 to S$4.4 billion. — The Straits Times

SINGAPORE: Seatrium reported a S$1.68bil (US$1.25bil) net loss for the second half of its 2023 financial year (FY23), a more than 10-fold increase from the S$118.3mil loss for FY22, and announced that it will undertake a 20:1 share-consolidation exercise.

The share-consolidation exercise is to increase market interest in, and the attractiveness of, its stock and is subject to shareholders’ approval at the upcoming annual general meeting, said Seatrium.