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Singapore shares open lower on Tuesday; Keppel, SembMarine down on corruption probe

SINGAPORE stocks opened lower on Tuesday, with the Straits Times Index losing 5.1 points, or 0.2 per cent, to 3,380.61 as at 9.02am.

About 24.8 million shares worth S$52 million in total changed hands. Gainers outnumbered losers 60 to 52.

The most actively traded counter was Thai Beverage, which fell S$0.005 to S$0.905 with 2.5 million shares changing hands.

Other active index stocks included Sembcorp Marine (SembMarine), which was down 3.6 per cent to S$1.87 a share with 1.6 million shares traded; and Keppel Corp which was down 4.55 per cent to S$7.13 with 980,000 shares changing hands.

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These come on the back of Keppel O&M's disclosure on Saturday that it will pay US$422 million in fines as part of a global resolution for a corruption probe across three jurisdictions in Singapore, Brazil and the US.

BT reported on Monday that Keppel O&M's revelation will also put SembMarine under the spotlight, as Sete Brasil was behind about US$10 billion of rig-building contracts that were awarded to Keppel O&M and SembMarine.