Temasek, via its various other linked entities, such as Keppel Corp, now holds a total deemed interest of 25.97 billion Seatrium shares, equivalent to 38.07%.
Seatrium, formed via the merger of Sembcorp Marine and Keppel's offshore and marine unit, most recently on Aug 28 announced it has secured a letter of intent to help build a rig for Shell and Norway's Equinor, to be used in the Gulf of Mexico.
The contract value has yet to be disclosed but CGS-CIMB's Lim Siew Khee estimates might be up to $400 million and can generate an Ebit margin of between 7 and 8%.
If so, Seatrium's order wins year to date has reached $4.6 billion.
See also: Ho Bee Land’s executive director and CEO Nicholas Chua ups stake in company
Seatrium shares changed hands at 14 cents as at 10.06am on Aug 30.
