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Stocks to watch: SembMarine, Marco Polo, SIIC Environment, Keppel T&T

SHARES in Sembcorp Marine declined on Wednesday on market fears that a developing legal spat with customer Marco Polo Marine over a S$214.3 million jack-up contract undertaken by PPL Shipyard could hit its bottom line.

The stock was trading at an intraday low of S$2.17 before closing down 5 cents or 2.22 per cent at S$2.20. Not helping was a broad market fall.

Marco Polo Marine also ended Wednesday's session down 7.6 per cent or 1.6 cents to S$0.194.

The contract is set for cancellation with either party calling for its termination, citing contractual breaches.

SHANGHAI government-backed water-treatment specialist, SIIC Environment Holdings, had more than 106.9 million shares traded at the end of Wednesday's session, making it the most active counter for the day.

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Its counter closed down S$0.055 cents at S$0.785.

Last week, the group was among the 10 most active stocks on the FTSE ST Mid Cap Index, which now includes Straits Times Index stocks.

Keppel Telecommunications & Transportation (Keppel T&T) has appointed Tan Eng Hwa as chief financial officer and Desmond Gay Kah Meng as chief executive officer of Keppel Logistics in a move to boost its management team.

Ms Tan, who is currently general manager of group internal audit at Keppel Corporation, will assume the role of CFO from Jan 1 next year and will report to the CEO of Keppel T&T. She is taking over from Chan Shui Har, who will remain as deputy CEO of Keppel T&T.

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