Martin Cheah Kok Choon

SembMarine’s weak 2Q results lead to analyst downgrades; company stays tight-lipped on police raid at Brazilian unit

(Aug 5): Disappointing results, slow order momentum and a weak outlook by the management are among reasons why investors should stay on the sidelines or consider getting out of Sembcorp Marine. Another factor is the potential blowback from a Brazilian bribery investigation that could further pummel shares of the offshore and marine services provider.

SembMarine stays tight-lipped on police raid at Brazilian subsidiary

SINGAPORE (July 30): Sembcorp Marine has remained tight-lipped in response to questions about a search conducted by local authorities at the premises of its subsidiary in Brazil.

See: Police raid a reminder that Sembcorp Marine's Brazil woes are far from over

SembMarine lodges suspicious transaction report linked to ex-EJA president Martin Cheah

SINGAPORE (July 8): Sembcorp Marine (SembMarine) has lodged a suspicious transaction report linked to ex-employee Martin Cheah Kok Choon with the Commercial Affairs Department of the Singapore Police Force.

The suspicious transaction is linked to Cheah when he was president of SembMarine’s Brazilian subsidiary, Estaleiro Jurong Aracruz (EJA) until June 2015 when his employment was terminated.

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