Sembmarine-Keppel O&M merger vote passes with more than 95 per cent in favour

IT HAS been nearly a year since the proposal to merge offshore and marine (O&M) giants Keppel O&M and Sembcorp Marine (Sembmarine), but the motion took a big step forward on Thursday (Feb 16) as shareholders voted overwhelmingly in favour of amalgamating the two into one.

At a fully virtual extraordinary general meeting (EGM), over 95 per cent of shares voted were in favour of the merger.

Out of 4,317,242,439 shares represented at the meeting, only 203,730,349 of them, representing 4.72 per cent of the shares, voted against the proposed merger.