Shareholders have overwhelmingly backed Sembcorp Marine’s plan for a SGD 2.1bn ($1.5bn) recapitalisation and demerger from parent company Sembcorp Industries.
Some 98.76% of the vote share was in favour of a rights issue to recapitalise the company, while 87.7% voted in favour of a whitewash resolution that waives the need for Temasek Holdings to make a general offer for the company after it becomes the majority shareholder.
