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

The Singapore Exchange (SGX) Centre at Shenton Way.
The Singapore Exchange (SGX) Centre at Shenton Way. PHOTO: ST FILE

SINGAPORE - Local stocks opened lower on Tuesday (Dec 26), 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.

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.