Seatrium - UOB Kay Hian 2024-06-26: Share Price Upside Kept In Check For Now

• Seatrium has had a spate of positive announcements in the past few months, including the confirmation of its third €2b HVDC contract with TenneT and the LOI for BP’s Kaskida field. However, the announcement of a new investigation by the Singapore authorities into Operation Car Wash has capped Seatrium's share price upside in the near term, in our view.

An eventful few weeks for Seatrium.

• - Read this at SGinvestors.io -
• confirmation of a third €2b offshore renewables contract with TenneT,
• - Read this at SGinvestors.io -
• the start of its share buyback program.
• Unfortunately, the negative news regarding Seatrium’s deletion from the MSCI Singapore Index and an Operation Car Wash investigation by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of Singapore has overshadowed the good news.

“Blindsided”.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-11-14 Seatrium - Sailing To Higher Margins But New Order Wins The Key.

Previous report by UOB:
2025-08-28 Seatrium - Arbitration Afoot But Strengthens Orderbook With New Projects.

Price targets by other brokers at Seatrium Target Prices.

Listing of research reports at Seatrium Analyst Reports.

Relevant links:
Seatrium Share Price History,
Seatrium Announcements,
Seatrium Dividend Payout Dates & Corporate Actions,
Seatrium News