Offer from Temasek likely to be 'academic' for minority investors of Sembmarine, analysts say

IF SHAREHOLDERS of beleaguered Sembcorp Marine (Sembmarine) are hoping to be saved by an offer from Temasek, they are very likely to be disappointed.

On Friday, it was announced that Startree Investments, a wholly owned unit of Temasek, will pick up 49.3 per cent of Sembmarine's latest rights issue, pushing its stake in the company from 42.6 per cent to 46.6 per cent.

This means the state investment giant will now have to make an offer for all the Sembmarine (Sembmarine) S51 shares it does not already own.