As we are almost done with the first month of the new year, there seems to be more pessimisms lurking in the market, especially locally. Stock markets are tumbling lower, where the STI has dropped an estimated of 9%. The local property market is not doing well either. To add on, recently there were news of retrenchments that will be done in the local jobs market. Is just me or it seems that 2016 doesn't feel like a good year?
The earlier crash of oil prices to new yearly-lows has negatively affected numerous local sectors, especially the oil rig industry. Although being one of the world-best oil rig builders, this has not defended KepCorp and SembCorp from the industry-wide trend. Posting of falling profits and announcements of major restructuring, it seems that the management is doing its best to tide against this resultant crisis.
I believe that KepCorp will soon ......