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Sembcorp Ind
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SembCorp Industries
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danger
Supreme |
04-Jun-2020 09:46
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the Company wishes to update that it has come to the Company&rsquo s attention that the Federal Justice Court of Curitiba accepted the complaint offered by the Federal Public Ministry in Paraná against Mr Guilherme Esteves de Jesus (&ldquo GDJ &rdquo ) for money laundering and the ex-employee Mr Martin Cheah Kok Choon (Martin Cheah) for money laundering and corruption in connection with certain drilling rig construction contracts entered into by subsidiaries of the Company with Sete Brasil in 2012. Martin Cheah is the former President of Estaleiro Jurong Aracruz Ltda (&ldquo EJA &rdquo ), the Company&rsquo s Brazilian subsidiary whose employment with the SCM group was terminated in June 2015. Companies connected to GDJ were engaged by the Company&rsquo s subsidiaries as consultants, with all such consultancy contracts having been suspended, and remain suspended, by the SCM group indefinitely. The above charges filed against Martin Cheah and GDJ by the MPF are in their personal capacities and not against EJA. |
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vivacious
Supreme |
04-Jun-2020 09:45
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will be a tall order to privatise SM above 3. Most is $2 i think. SCI will be $4.
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weekaykee
Master |
04-Jun-2020 09:44
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I bought 40 lots at average of $1.45 over past week. Keeping fingers crossed it will be postive news for SCI. The ideal scenario would be Temasek making an offer for both SCI and SCM.
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pkli899
Supreme |
04-Jun-2020 09:43
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Yes, there is a separate announcement by SM. But the legal issue is not directly involving SM. Is a corruption case against 2 individuals as stated in the news.
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vivacious
Supreme |
04-Jun-2020 09:42
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halt lah. Suspension is more serious
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RedAnt
Member |
04-Jun-2020 09:42
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It still a bad new for SCM. In the near future, shorist will likely to go for the kill :( but then for supporter maybe can pick up some for long term. https://www.straitstimes.com/business/companies-markets/brazil-court-accepts-charges-against-2-men-formerly-linked-to-sembcorp |
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weekaykee
Master |
04-Jun-2020 09:41
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The higher the offer price for SCM , the higher SCI will go.
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puppey
Veteran |
04-Jun-2020 09:41
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if privatise SM , all long term holders all kiss goodbye their $$ if they bought at > 3 ... will they make a high offer ? hmm |
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weekaykee
Master |
04-Jun-2020 09:40
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Brazil case done and dusted. Factored in already. And SCM would not have run up yesterday if it was anything negative. It is some coporate move.
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alwayshopeful
Senior |
04-Jun-2020 09:39
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Keppel Corp not suspended. Up slightly now.
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Laurenpanna
Veteran |
04-Jun-2020 09:37
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is it really because of this? I saw there stated , Pending for announcement
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Cherryredbibi
Member |
04-Jun-2020 09:35
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Legal issues ..! Oh no , I was hoping for good news
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alwayshopeful
Senior |
04-Jun-2020 09:35
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If offer price too high, SCI may fall.
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Waterrat
Veteran |
04-Jun-2020 09:35
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Thanks bro , hopefully this time huat Big 2gether
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superbDM
Member |
04-Jun-2020 09:33
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Maybe Temasek have some spare cash to privatise SM after helping SIA?
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Sgvale
Supreme |
04-Jun-2020 09:30
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legal issue in Brazil for Semb M . Big issue. Better halt a few days for market to digest
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vivacious
Supreme |
04-Jun-2020 09:30
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swee lah bro. congrats on ur upcoming wedding. U must be a young chap. gd on u! I hv 60 lots also abt 1.55. Come lets huat together.
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alwayshopeful
Senior |
04-Jun-2020 09:29
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Yes. Frustrating when the market is so hot. Better stop the trading halt ASAP.
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weekaykee
Master |
04-Jun-2020 09:24
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Most probably some entity (Temasek or Keppel) making an offer to buy over Semb Marine.
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unclebond
Master |
04-Jun-2020 09:24
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Agreed. If Sembcorp Marine can up 10cents yesterday. I think the parent share should perform better
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