SINGAPORE (Dec 26): CIMB is maintaining its “overweight” recommendation on the offshore and marine (O&M) sector.

The research house has highlighted Keppel Corporation (KEP) and Sembcorp Marine (SMM) as its “buy” picks with target prices of $8.58 and $2.49 respectively.

Last Friday, Keppel Offshore and Marine (KOM) was fined US$422 million ($570 million) as part of a resolution with US authorities, Brazil and Singapore to bring closure to the investigations into corrupt payments made by former KOM agent in Brazil, Zwi Skornicki.

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