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  • STI Straits Times Index
    3,110.3
    -17.4 (-0.56%)
     
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    6.9 (0.43%)
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  • Volume: 728.4M
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  • Rise: 102
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Name Last Change
LionGold0.001-
Rex Intl0.083+0.007
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World Indices

World Indices
Name Last Change
Nasdaq 7,751.8 -239.6
HSI 26,179.3 +130.6
HSCEI 10,194.7 +71.8
Jakarta 6,255.6 +16.4
Nikkei 225 20,710.9 +82.9
SSE Comp 2,897.4 +14.0
Shanghai A 3,035.4 +14.7
Shanghai B 264.6 +0.3
PSE Comp 0.0
KOSPI 1,948.3 -2.7

Asian Indices delayed. US Indices updated twice daily at 7:30am and 7:30pm.

News - Detailed News Story

Keppel Corp

Stock Chart
Last Done 5.880
Change -0.060 (-1.01%)
Volume 3,949.1
Range 5.870 - 5.920

Sembcorp Marine

Stock Chart
Last Done 1.260
Change -0.030 (-2.33%)
Volume 3,694.8
Range 1.250 - 1.300

SembMarine hit by renewed fears over scandal fallout

05 Jul 2019 09:00

By Anita Gabriel

SINGAPORE'S rig builder Sembcorp Marine has yet to put the fallout from Brazil's mammoth corruption scandal behind it as renewed fears over potential fines sent the stock skidding after the company revealed that its yard in the southeastern state of Brazil was raided and the facility's former president was being investigated.

The latest news compounded worries for the highly-geared offshore and marine company that was already dealing with an industry downturn, one that is taking longer than expected to pick up. There was a piece of positive news, though, over a week ago when parent Sembcorp Industries said it was extending a S$2 billion loan to SembMarine to give it breathing space to ride the slump.

One analyst pointed to other uncertainties such as whether the recent development could lead to a "contingent indictment".

SembMarine's stock tumbled 13 Singapore cents or 8.4 per cent to finish at S$1.41, after falling by nearly 10 per cent in intraday trade on heavy trading volumes of over 30 million shares - over six times its average daily trading volume over one year - worth S$43 million.


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Source: Business Times
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