Corporate digest

Franklin Resources

US FUND manager Franklin Resources has become a substantial shareholder of Sembcorp Marine (SembMarine) after its two funds - Templeton International and Templeton Worldwide - bought S$1.82 million in additional shares in the yard group on March 2. In a regulatory filing, Franklin Resources said it has raised its total deemed interest to 5.03 per cent from 4.97 per cent after the funds snapped up 1.15 million shares in all. The purchases bring the average price of a share to S$1.58.

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