$Seatrium Ltd (5E2.SG)$ [Share Link: uobkayhian.com/...] Sea...

Seatrium has had a spate of positive announcements in the past few months, including the confirmation of its third €2b HVDC contract with TenneT and the LOI for BP’s Kaskida field. However, the announcement of a new investigation by the Singapore authorities into Operation Car Wash has capped its share price upside in the near term, in our view. Maintain BUY with target price lowered to S$2.35.