Seatrium shares tumble 5.4% after fines, despite strong H1 results
On Wednesday, the engineering solutions provider announced that it would pay S$240 million in fines to Brazilian and Singaporean authorities to settle corruption offences.
The counter dropped to S$2.27 at 10.19 am – a fall of 5.4 per cent or S$0.13 from its Wednesday closing price of S$2.40.
With 23.9 million shares changing hands, it was the most-traded stock by volume on the Singapore Exchange as at 10.19 am.
For the six months ended Jun 30, Seatrium's net profit surged 301.3 per cent to S$144.4 million, while revenue was up 33.7 per cent at S$5.4 billion.
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