- Seatrium announced it has reached an agreement with Singapore’s Attorney-General’s Chambers (AGC) to pay a financial penalty of US$110m in relation to Brazilian Operation Car Wash on alleged corruption offence in Brazil.
~S$77m settlement with Singapore authorities
- - Read this at SGinvestors.io -
3.8% EPS decline in FY23, no impact on FY24F EPS
- The latest fine will be readjusted to Seatrium’s FY23 financial statements as a material subsequent event. Total loss for FY23 increased from $1.95bn (as set out on 26 Feb 2024) to $2.03bn. Total equity decreased from S$6.492bn to S$6.42bn. As a result, Seatrium's FY23 EPS is restated to S$0.0312 (from S$0.0324). Estimated BVPS at S$0.102 from S$0.104.
ESG controversies removed
- - Read this at SGinvestors.io -
- As Seatrium reached final settlements with authorities in both Brazil and Singapore, it has now closed all past controversies related to pre-merger Sembcorp Marine. In our view, Seatrium is likely to see an uplift in its ESG Controversies Score, which currently stands at B+.
Other FPSOs bidding scene in Brazil
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGSI Research.
Clients of CGS International may access the full report in PDF @ https://itrade.cgsi.com.sg/.
LIM Siew Khee CGS International Research | https://itrade.cgsi.com.sg 2024-03-28
Previous report by CGSI:
2024-03-15 Seatrium - Can It Achieve Its Targets Before FY28?.
Price targets by 3 other brokers at Seatrium Target Prices.
Listing of research reports at Seatrium Analyst Reports.
Relevant links:
Seatrium Share Price History,
Seatrium Announcements,
Seatrium Dividends & Corporate Actions,
Seatrium News Articles
