Sembcorp Marine (SG:S51) has released an update.
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Sembcorp Marine Limited is set to enter a Deferred Prosecution Agreement (DPA) with Singapore authorities, agreeing to a financial penalty of US$110 million, with US$53 million credited against payments made to Brazilian authorities. This follows an investigation into alleged corruption related to Operation Car Wash in Brazil. The company has made provisions for the penalty in its FY2023 financial statements, ensuring no significant impact on its financial year 2024 earnings.
For further insights into SG:S51 stock, check out TipRanks’ Stock Analysis page.
