Singapore Stocks to Watch: Seatrium, 3Cnergy

Tiger Newspress2023-12-27

The following companies saw new developments that may affect the trading of their securities on Wednesday (Dec 27):

Former president of Estaleiro Jurong Aracruz, Seatrium’s Brazilian subsidiary, Martin Cheah was acquitted of all charges related to Brazil’s graft probe Operation Car Wash on Dec 20.

Guilherme Esteves de Jesus, a former consultant with connections to Estaleiro Jurong Aracruz, was also acquitted by the Brazilian Federal Lower Court on the same day.

Shareholders of Catalist-listed 3Cnergy approved the reverse takeover (RTO) of hospitality player DTP Infinities at an extraordinary general meeting on Tuesday (Dec 26).

Almost all shareholders voted for the RTO except for 0.01 per cent or 129,100 out of 2.4 billion shares. As part of the RTO, 3Cnergy will be renamed Prosper Cap and will be led by Iqbal Jumabhoy as chief executive and executive director.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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