Shares & Derivatives
Sembcorp Marine falls 8% on ‘alleged irregularities’ probe. More uncertainty ahead?
By Beansprout  •  March 25, 2023
Sembcorp Marine announced that its subsidiary Estaleiro Jurong Aracruz (EJA) is under investigation for “alleged irregularities”. What happened? Sembcorp Marine’s share price fell by 8.0% to close at S$0.104 on Friday 24th March. The share price decline came after the company announced that its subsidiary Estaleiro Jurong Aracruz (EJA) is under investigation for “alleged irregularities”. Let’s take a further look at what this could mean for the company and its share price. Source: SGX

What you need to know about Sembcorp Marine share price fall

#1 – Sembcorp Marine subsidiary under investigation

According to Sembcorp Marine, the Office of the Comptroller General of Brazil (CGU) has initiated a preliminary administrative liability proceeding against its subsidiary Estaleiro Jurong Aracruz (EJA). The CGU is Brazil’s anti-corruption agency “responsible for defending public assets” and “acts to prevent, detect and punish cases of corruption” These relate to investigations of alleged irregularities practiced by EJA, Sembcorp Marine’s shipyard in Brazil which started operations in 2014....
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By Beansprout
Hi, I’m Gerald! I have been working in investment analysis for more than 12 years. Often, I encounter everyday investors who find it difficult to invest. At Beansprout, we believe that with the right tools and knowledge, everyone can be an investor. Hence, we founded Beansprout to make quality investment insights more accessible. We hope that you can join us on this journey to grow your financial knowledge and confidence as an investor.
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