Stocks to watch: Sembmarine, Straits Trading, Keong Hong

THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 29):

Sembcorp Marine (Sembmarine): Investigations into the group’s wholly-owned subsidiary, Estaleiro Jurong Aracruz, are related to past conduct linked to Brazil’s anti-corruption effort Operation Car Wash, announced the group on Wednesday. Brazilian authorities have yet to bring any civil or administrative charges against the company, or its subsidiaries. Sembmarine closed on Tuesday S$0.005 or 4.8 per cent higher at S$0.11.

Straits Trading Company : The company’s board of directors proposed the adoption of a scrip dividend scheme where shareholders may opt to receive their dividend payout with new shares in lieu of the cash amount. Shares of Straits Trading ended flat at S$2.20 on Tuesday, before the announcement was made.