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Operation Car Wash
Broker's Calls
Citi cuts Seatrium’s adjusted profit forecasts, lowers TP to $1.96 after new investigations into Operation Car Wash
DBS Group Research expects shares in Seatrium to react negatively to the news; sees near-term support at $1.58.
June 18, 2024
Company in the news
MAS and CAD probing Seatrium under SFA over Operation Car Wash
ACG had earlier agreed to a DPA with Seatrium
June 15, 2024
Broker's Calls
OCBC's Lim trims Seatrium's fair value to 15.5 cents following DPA but keeps 'buy' call
After factoring in the DPA, Seatrium's NAV will be slightly trimmed by 1.2%
April 02, 2024
Company in the news
'Scrubbed clean' Seatrium unshackles surplus assets and puts Operation Car Wash behind
'The energy trilemma is a business opportunity,' says Seatrium's CEO Chris Ong
February 29, 2024
Company in the news
Ex-president of Seatrium Brazilian subsidiary Martin Cheah acquitted of corruption charges
Under Brazilian law, the Federal Prosecutors’ Office may appeal the decision to acquit Cheah.
December 26, 2023
Corruption probe
SembMarine lodges suspicious transaction report linked to ex-EJA president Martin Cheah
SINGAPORE (July 8): Sembcorp Marine (SembMarine) has lodged a suspicious transaction report linked to ex-employee Martin Cheah Kok Choon with the Commercial Affairs Department of the Singapore Police Force.
July 08, 2019
Corruption probe
Police raid premises of SembMarine subsidiary in Brazil
SINGAPORE (July 3): Sembcorp Marine says the Brazilian federal police conducted a raid on the premises of its subsidiary Estaleiro Jurong Aracruz Ltda (EJA).
July 03, 2019
Broker's Calls
Buyer for West Rigel rig found but graft probe still weighs heavy on SembMarine
SINGAPORE (Dec 27): Sembcorp Marine's subsidiary Jurong Shipyard may have found a buyer for West Rigel, however one negative overhang looming large on the horizon is the Brazilian corruption probe.
December 27, 2017
Keppel Corp denies EIG’s Petrobras allegations
SINGAPORE (June 2): Keppel Corp on Thursday denied allegations brought about by EIG Management Co and eight of its managed funds in a US$221 million ($304 million) fraud suit against Petroleo Brasileiro SA.
June 02, 2016