Investors should consider the motivations of major shareholders in Sembcorp Marine’s deals
Temasek will hold 33.5 per cent of the merged Sembmarine-KOM entity at an average price of S$0.048 per share
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MARIE Antoinette probably never uttered the words, “Let them eat cake”. But her alleged response to being told that the peasants of France had no bread is a widely understood allusion to the mighty being callously indifferent to the plight of the weak.
The phrase came to mind while I was reading a report in The Business Times earlier this month about Sembcorp Industries (SCI) contemplating a special dividend after delivering blowout financial numbers for H1 2022.
“We want to make sure the cake is cut in a manner where everyone gets fairly allocated a slice of the cake,” said SCI’s chief executive, Wong Kim Yin, during a media and analyst briefing on Aug 5.
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