The following companies saw new developments that may affect trading of their securities on Wednesday (Mar 29):
Sembcorp Marine, on March 29, says the preliminary administrative proceedings against its Brazilian subsidiary Estaleiro Jurong Aracruz Ltda (EJA) is related to the “past conduct” investigated by the Brazilian authorities in connection with Operation Car Wash.
On March 24, the company announced that the Comptroller General of the Union (CGU) had begun a “preliminary administrative liability proceeding” against EJA for the investigation of alleged irregularities practised by SembMarine’s Brazilian subsidiary.
Diversified investment company Straits Trading wants to adopt a scrip dividend scheme that will allow shareholders to opt for dividend payouts in new shares, instead of cash.
“The scrip dividend scheme will enable eligible shareholders to reinvest in the company and further their participation in the equity capital,” Straits Trading said in a Tuesday (Mar 28) bourse filing, adding that this would not incur brokerage fees, or transaction and other related costs.
Keong Hong Construction, a wholly-owned unit of Keong Hong Holdings, has secured a S$118 million tender for main contract works at Cecil Street.
The tender, awarded by Solitaire Cecil, involves the proposed erection of a 20-storey office building, with restaurants on the first floor and a basement carpark, the company said in a Tuesday (Mar 28) filing. The construction period is 35 months, commencing in May.