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Sembmarine
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puppey
Veteran |
11-Jul-2019 14:22
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trying to survive and holding on..1 more bad news is all it takes to $1.. can see a bunch of shortlists waiting at its door ..trade with care :) |
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Starship
Supreme |
11-Jul-2019 14:15
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A childish poster going to various threads to rate my posts ' not useful" every 15 mins.................  ![]()
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Francisgohyc
Master |
11-Jul-2019 13:45
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Sian - trading price fall between $1.40 - $1.43 Oil up to USD$ 60 also no use This round ready buy at the wrong timing  
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noslen
Veteran |
10-Jul-2019 10:16
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I think what he's trying to show is that guilty or not, there's no way out for sembcorp without paying the fine.
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runaway
Senior |
10-Jul-2019 08:04
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What has this got to do with the alleged bribery case against SembMarine? Keppel would not have paid   $600+ mil for a crime it did commit. SembCorp is still a ?  Doubting the judge does not make a crime go away.   |
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smoothsailing
Member |
10-Jul-2019 06:27
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ON JUNE 9,  The Intercept began  reporting a series of exposé s  about unethical and corrupt behavior by then-Judge Sergio Moro, now the powerful justice minister for President Jair Bolsonaro, based on a massive archive of secret documents provided to us by an anonymous source. As The Guardian  reported on Wednesday  regarding retaliatory investigations launched by Moro&rsquo s Federal Police against us in an attempt to intimidate and punish us for this reporting, our  articles &ldquo have had an explosive impact on Brazilian politics and dominated headlines for weeks.&rdquo Once revered across the political spectrum, Moro  &mdash widely regarded as the linchpin of the Bolsonoro government&rsquo s credibility &mdash is now engulfed in a deepening scandal. Two weeks ago, he  defended himself for nine hours  before a hostile Brazilian Senate, and  on Tuesday, spent almost seven more hours in the Congress doing the same until his testimony was  interrupted by a furious screaming match  &mdash prompted by a congressperson  calling him a &ldquo thief judge&rdquo &mdash that came close to physical confrontation:
 
 
 
 
  An  op-ed in the New York Times  on Friday by Vanessa Barbara  illustrates how rapidly and radically Moro&rsquo s reputation has fallen both in Brazil and internationally. The article summarizes the crux of our reporting this way: &ldquo All in all, the leaks reveal an immoral judge, who teamed up with electorally-motivated prosecutors, in order to arrest and convict individuals that they already considered guilty. Their only question was how best to do it.&rdquo The Times&rsquo s headline perfectly captures the essence of this scandal for the Bolsonaro government: Moro&rsquo s key media supporters have abandoned him: The center-right paper Estadã o, long one of his most vocal cheerleaders, called for his resignation after the first week of our reporting. Polling data shows that his approval rating, just after the first week of our reporting,  began falling sharply. And the right-wing president of the Senate &mdash installed in  February based on an expectation that he would loyally support the agenda of the Bolsonaro government &mdash said that  Moro&rsquo s behavior  was  so unethical that he would be &ldquo imprisoned&rdquo   if he were not the justice minister. The  Senate has demanded  that both Moro and Finance Minister Paulo Gedes appear to explain what appears to be their abuse of police power to investigate us. This scandal has grown  as our reporting has  continued. To accelerate the reporting, prevent claims that we have been ideologically selective in choosing what to disclose, and obliterate Moro&rsquo s desperate attempt to cast doubt on the authenticity of the material in the archive, we have partnered with several of Brazil&rsquo s most mainstream journalistic outlets &mdash   including its largest newspaper, Folha of Sã o Paulo, and a longtime right-wing journalist, Reinaldo Azevedo of the Band News radio network &mdash to jointly report on these incriminating revelations. But today&rsquo s events have elevated Moro&rsquo s crisis to an entirely new level. The largest weekly newsmagazine in Brazil is the center-right Veja, which has been one of Moro&rsquo s most vocal and devoted supporters for years, repeatedly putting his image on its influential covers in heroic postures. But now, Veja is also  partnering with us  to report on the archive, and  on Friday,  we co-published  a devastating cover story  that lays out in detail, with multiple newly released private conversations involving Moro, how pervasive, sustained, and comprehensive was his corruption.
  Veja cover: &ldquo Exclusive: Justice With His Own Hands: New chats show that Sergio Moro committed irregularities, disturbing the scales of justice in favor of the prosecution in the Car Wash investigation.&rdquo The eight-page  cover story features some of the most incriminating leaked conversations yet, demonstrating that Moro&rsquo s misconduct was not sporadic or episodic but &ldquo reveals how Moro abused his judicial function as part of a cabal, commanding the actions of the prosecutors of Car Wash.&rdquo In sum: &ldquo The communications analyzed by the Veja reporting team are true and the story shows that the case is even more grave than previously known.&rdquo     The case is even more grave than previously known. The Guardian, in  an article  published Friday with the headline  &ldquo Calls grow for Bolsonaro ally to quit after &lsquo devastating&rsquo report on leaks,&rdquo explained that &ldquo Moro is facing renewed pressure to resign after the country&rsquo s leading conservative magazine waded into a snowballing scandal over his role in a mammoth anti-corruption investigation that helped reshape South America&rsquo s political landscape.&rdquo Perhaps even more significantly is Veja&rsquo s  extraordinary &ldquo Note to Readers,&rdquo in which the magazine explains why it concluded that  its journalistic duty was to expose Moro&rsquo s corruption after years of applauding him detail the journalistic methods used to authenticate the material and unflinchingly describe why Moro&rsquo s conduct as a judge is a grave threat to the rule of law and the pillars of democracy. On the front page of its widely read site,  the magazine accuses Moro not merely of engaging in unethical or  improper acts &mdash the words we have used thus far to describe his behavior &mdash but also &ldquo illegal&rdquo ones. That Brazil&rsquo s largest center-right magazine, in partnership with The Intercept, is now explicitly accusing Bolsonaro&rsquo s justice minister of &ldquo illegalities&rdquo &mdash based on detailed accusations proven by Moro&rsquo s own words in secret &mdash is as significant as journalism gets.
  Veja website caption: &ldquo New chats reveal that Moro illegally commanded the actions of the Car Wash prosecutors.&rdquo Perhaps most amazingly, Veja candidly acknowledges, and clearly appears to regret, its own role in helping Moro construct a public image as some sort of superhero, a  high priest  of ethics and propriety who was beyond reproach &mdash a myth that, as we all now know, was deeply deceptive. At the top of its letter to readers explaining why it is exposing Moro&rsquo s conduct &mdash headlined: &ldquo About principles and values&rdquo &mdash Veja displays five different covers over the past several years that it published heralding Moro&rsquo s virtue, along with this caption: 
In sum, Veja, along with The Intercept and Folha, has devoted massive editorial resources to exposing Moro&rsquo s misconduct in defense of a simple but crucial principle, as described by its letter to readers: &ldquo Ultimately, nobody  is above the law.&rdquo Ironically, that motto was, for years, the rallying cry of Moro&rsquo s supporters, and it is now the principle that is finally bringing serious accountability to his own grave misconduct. This new article demonstrates, comprehensively and with finality, that the true chief of the  Car Wash prosecutions was the same person who pretended to be, and was ethically obligated to be, the neutral judge: Sergio Moro, now the most powerful official in the Bolsonaro government, overseeing vast powers of surveillance, investigation, and law enforcement previously dispersed among various agencies but now all consolidated under his control.  Moro&rsquo s conduct was a serious corruption of the judicial system &mdash not only for the defendants whose rights he violated but for all future defendants who are in jeopardy of a legal system that no longer requires the most basic obligation to ensure credibility and legitimacy: a neutral, impartial judge. We began our reporting by  explaining our rationale  for why we believed that disclosure of this massive secret archive  was so critical for Brazilian democracy. In doing so, we wrote: &ldquo Given the immense power wielded by these actors, and the secrecy  under which they have &mdash until now &mdash been able to operate, transparency is crucial for  Brazil and the international community  to have a clear understanding of what they have really done. A free press exists to shine a light on what the most powerful figures in society do in the dark.&rdquo That &mdash transparency for the corrupt acts by powerful officials &mdash continues to be our governing value and primary objective in this reporting. The threats from Moro and the Bolsonaro government &mdash including the abuse of the Federal Police commanded by Moro to investigate our finances &mdash will, needless to say, not deter the reporting in the slightest. Quite the contrary: This new joint article with Veja, published 48 hours after news broke of the Federal Police retaliation against us, is a major advancement of  our originally stated goal.  With respect to the part of this story concerning Moro&rsquo s unethical, improper collaboration with the prosecutors, this latest article &mdash on the cover of  Brazil&rsquo s highly influential  center-right weekly news magazine &mdash reveals just how comprehensive, reckless, and sustained  Moro&rsquo s  misconduct was. |
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smoothsailing
Member |
10-Jul-2019 06:21
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https://theintercept.com/2019/07/05/scandal-for-bolsonaros-justice-minister-sergio-moro-grows-as-the-intercept-partners-with-brazils-largest-magazine-for-new-expose/ https://www.nytimes.com/2019/07/05/opinion/lula-moro-brazil.html?smid=tw-nytopinion& smtyp=cur& fbclid=IwAR3OtgbTC5VTtNzJ2hQPRmvJF_oQ0tiQ10ikp5Ov3HoSL_a0ZQ8e4mRkioA More on the corrupt and crooked behaviour of Sergio Moro, the judge in charge of the task force wrt to the Keppel and SMM cases. This guy is SO CORRUPT it is unbelievable. His corruption is not the " money" type of corruption. His corruption is the " power" type of corruption wher he abuses his power as a judge to frame his targets, imprison people or opposing politicians on false charges and thus gain political power. And now he is the Justice Minister of Brazil. Previously, he promised in public he would never take a position in government. Obviously, he wants to ride his " success" as a judge to become the next president of Brazil. |
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smoothsailing
Member |
10-Jul-2019 06:07
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https://www.theguardian.com/world/2019/jul/05/brazil-sergio-moro-jair-bolsonaro-justice-minister Sergio Moro was the judge presiding over the Keppel and SMM cases. As we can see, he is clearly corrupt as hell and out to destroy his targets by framing them, faking evidence, intimidating them with crazy threats, falsely imprisoning them to extract confessions, all in order to gain political power for himself and the party he supports. He was called " a lying and thieving judge" in parliament and " everything a judge should not be" . But this corrupt guy is the one trying to extort huge fines from Keppel and SMM and also framed up the previous very popular president Lula on false charges and put him into prison so he could not contest the elections. |
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noslen
Veteran |
09-Jul-2019 12:42
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Thought i read somewhere they already provision this in 2016... now it's just how much fine they are liable to pay. I think current price may have factored in some amount already so let's see what happen end July.
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runaway
Senior |
09-Jul-2019 11:42
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In light of the raid and voluntary lodging of report with CAD, and delay of Q2, bo ho say. A provision of XXX mil in Q2 May floor it.   |
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Jamesbond007
Veteran |
09-Jul-2019 11:34
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Have faith. Good company doesn' t become bad just because of macro seasonal factors. Will bounce back sharply when the time comes. Now, the fat has been trimmed and trimmed. Now, waiting for the wind to blow its sail again. | ||||||||||
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john_ric
Supreme |
08-Jul-2019 23:51
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today broad market down a lot but smm down only 1 cent.  seems this price will hold pending further update of news. | ||||||||||
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Lucky03
Elite |
08-Jul-2019 23:19
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SMM just released an update of the ongoing investigation. Not much new info other than more detail on the activities for 2015 and 2017. It also revealed that it is conducting an internal investigation. BT also reported that SMM lodged a report with CAD.
SMM announced today too that it will release its Q2 report on 30 Jul. 10 days later than the Q2 report released on 20 Jul. Guess the delay may be due to waiting for some conclusion to the ongoing investigation ? Looking forward to a turnaround story for Q2. An extract of the report.from CIMB on 2 Jul.2019 may offer some light at the end of the tunnel for SMM ... https://research.sginvestors.io/2019/07/sembcorp-marine-cgs-cimb-research-2019-07-02.html?m=1 |
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noslen
Veteran |
08-Jul-2019 17:17
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Yes monitoring any wind blow grass move but i think i am prepared to ride out the storm with this one.... let's see.
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Qanghoo
Supreme |
08-Jul-2019 17:13
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U' re right.  DYODD is best.  There' s quite a fair bit of speculative analysis being thrown ard, nothing more.  Thx share px itself seems to have stabilised ard 141-42 the last few sessions. 
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noslen
Veteran |
08-Jul-2019 16:47
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Interesting to see how this unfold.... just vested today. It depends on if you believe this will pan out the same way as Keppel or different. | ||||||||||
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topster
Member |
08-Jul-2019 16:38
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Sembcorp Marine may face SGD 400m Brazil fine, says analyst DBS Bank says fiscal penalty could be anywhere between 35%-70% of that paid by Keppel. https://www.tradewindsnews.com/shipyards...2-1-634349 |
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Qanghoo
Supreme |
08-Jul-2019 10:52
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So, what he says is gospel truth.  I see.
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topster
Member |
08-Jul-2019 10:13
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&ldquo KGI analyst Joel Ng observes that the $2 billion line was divided into two portions.  The first, $1.5 billion at a rate of 3.55% a year, is to be used by SembMarine to retire a bond.  The remaining $500 million, carrying a rate of swap offer rate plus 1.91% a year, is meant for working capital, which  Ng believes  is set aside in case of any fines that might arise from the Brazilian case.&rdquo So it is a matter of when to be fined and the amount. Dragged on for too long already |
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Francisgohyc
Master |
08-Jul-2019 09:57
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Welcome a board, I beleive the fine will be minimum since keppel Corp have it fine long ago.
Accumulate now before it Move up again since there is no drop further down
Vested and still monitor it at Taiwan
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