Seatrium    Last:0.091   -

SembM Re-Born Rich

Congratulation to all shorted at opeing make easy money, don' t know who' s so stupid buy from us. hehe... 

 

Good move by T to consolidate corrupted businesses together. Bad move by SCM retail investors not to sell at 13cents. What good future? 🤣 🤣 🤣

 

Wow horrible can drop till 0.103, relation with brazil can trigger such big fear because above 80% order book from brazil? siao liao this  volatility don' t know will last how long 
 

 

The Brazil situation is just unfortunate. It is just how business in Brazil works. It is like paying a fee to facilitate business. Then suay suay the government change and bribery was the issue that cause the earlier government to fall. So companies like KOM gets thrown under the bus.

Now that the the Brazil government is relooking at SCM, there would be a high risk that they find something given how prevalent bribery is in Brazil. 

 

See what happened to KOM...
Keppel Offshore & Marine has fully paid fines and damages of almost 343.6 million reais (S$88 million) to Brazilian authorities in relation to its corruption case.
The deal was on top of a global resolution reached in December 2017 with authorities in Singapore, Brazil and the United States.
Keppel O& M was then fined US$422 million for its part in an international corruption scandal that took place between 2001 and 2014, with bribes amounting up to US$55 million.
https://www.channelnewsasia.com/business/keppel-om-says-s88-million-fines-and-damages-paid-full-brazil-authorities-3241356

 

Looking at what happened to Keppel O& M, the time taken, the global investigation, the fines, the reputational risks...
staying far away from the Co
There are other counters to consider which are not under investigation

 

The present share price already very much discountered for all the bad news! 

TraderBen      ( Date: 24-Mar-2023 09:56) Posted: bad news from SCM have been coming in since 2-3 yrs back.. falling from grace. naoshingo      ( Date: 24-Mar-2023 09:29) Posted: Banking sector has bad news....SM also want to join in the mud....

 

Very much oversold now at 107, 108 pick up cheap if you have tons of long term fund like CPF.

easywin      ( Date: 24-Mar-2023 09:31) Posted: More or less stabilize after half hour of trading shortists are waiting to cover as low as possible

 

It looks like the recent and yesterday ramped up, was to allow those with the early info to unload.

Not good news to be investigated by Brazilian authorities.  Given what happened to Keppel O& M.   

Would stay away from the Co until further clarity on the nature and extent of the investigation.
 

 

bad news from SCM have been coming in since 2-3 yrs back.. falling from grace.

naoshingo      ( Date: 24-Mar-2023 09:29) Posted: Banking sector has bad news....SM also want to join in the mud....

 

aragosta      ( Date: 24-Mar-2023 09:37) Posted: --- Post Removed by User ---

 

With a name changed, there' s a very good beginning for the Company starting with SINGAPORE, if you notice that most of the companies starting with Singapore seems to do well. May be because the company carries the Singapore name, so they better perform, else it is a disgrace to the country. 

Eagle88      ( Date: 24-Mar-2023 09:28) Posted: Officially yes, unofficially they know each other well.  aragosta      ( Date: 24-Mar-2023 09:17) Posted: --- Post Removed by User ---

 

More or less stabilize after half hour of trading shortists are waiting to cover as low as possible

 

Banking sector has bad news....SM also want to join in the mud....

 

Officially yes, unofficially they know each other well. 

aragosta      ( Date: 24-Mar-2023 09:17) Posted: --- Post Removed by User ---

 

Good opportunity to accumulate more at lower price than 110 if still have more bullets. Investors look for long term, short term trading to make pocket money 

Stocky901      ( Date: 24-Mar-2023 08:51) Posted: Insiders very good jobs. Pump first then issued bad news. Impacts should not be too big. Maybe even no impact. Hope so.,🙏 🙏 🫣 🫣

 

111 many rushing out to sell and short

 

They have to put one big cash amount aside? Just do it one and for all, just like Kepp? ☹ ️

 

Today SGX Co' s announcement:

ANNOUNCEMENT UPDATE IN RELATION TO BRAZIL

Singapore, 24 March 2023 - Sembcorp Marine Ltd (&ldquo SCM&rdquo or the &ldquo Company&rdquo ) wishes to inform that it has come to its knowledge that the Office of the Comptroller General of Brazil (&ldquo CGU&rdquo ) has published a notice in the Official Gazette (the &ldquo Notice&rdquo ) to the effect that CGU has initiated a preliminary administrative liability proceeding against the Company&rsquo s subsidiary, Estaleiro Jurong Aracruz Ltda (&ldquo EJA&rdquo ) for the investigation of alleged irregularities practiced by EJA . The Notice does not provide further facts and the Company is currently unable to assess the matter or impact, if any. EJA is co-operating fully with the authorities.

The Company will continue to monitor developments in Brazil with respect to the above, and will make appropriate announcements in the event of any material developments. 

 

so fast back below 0.11 because of the relation with brazil annoucement?