|Bid||30.69 x 0|
|Ask||30.71 x 0|
|Day's Range||30.55 - 30.96|
|52 Week Range||15.47 - 37.86|
|Beta (5Y Monthly)||0.59|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb. 27, 2020|
|Forward Dividend & Yield||0.08 (0.26%)|
|Ex-Dividend Date||Nov. 12, 2019|
|1y Target Est||36.00|
MONTREAL — Canada has slipped in the annual Transparency International ranking of countries considered among the least corrupt, in light of the SNC-Lavalin controversy.According to the Berlin-based organization's most recent corruption perception index, Canada now ranks 12th on the list of 180 countries assessed, behind Germany, the Netherlands and Norway. This is a decrease of three places compared to 2018.The country obtained a score of 77, which places it at the top in the Americas, while the United States ranks 23rd.The report points out that the "shockingly low" enforcement of foreign bribery laws among economically developed countries was reflected in the case against SNC-Lavalin, which faced criminal charges of fraud and corruption in Libya between 2001 and 2011.The Montreal engineering company settled the charges in December, with its construction division pleading guilty to a single count of fraud and agreeing to a $280-million fine to be paid over five years and a three-year probation order.Transparency International also says that Canada is becoming an increasingly popular place for money laundering or "snow-washing" through shell companies to avoid paying taxes.Denmark and New Zealand are considered the least corrupt countries with a score of 87 points. At the other end of the scale are Somalia, South Sudan and Syria, with scores of nine, 12 and 13.This report by The Canadian Press was first published Jan. 24, 2020.Companies in this story: (TSX:SNC)The Canadian Press
MONTREAL , Jan. 22, 2020 /CNW Telbec/ - SNC-Lavalin (SNC.TO) is pleased to announce a series of enhancements to its senior leadership team to better align with and support the execution of the Company's new strategic direction and its focus on driving cash flow and sustainable growth.
MONTREAL , Jan. 21, 2020 /CNW Telbec/ - Candu Energy Inc., a member of the SNC-Lavalin Group (TSX: SNC), was awarded a $10.8 million ( 7.3M EUR ) contract by Societatea Nationala Nuclearelectrica S.A. ...
MONTREAL , Jan. 20, 2020 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) announces that it has been awarded an engineering services contract from Al Dhafra Petroleum, a joint venture company between ADNOC and the ...
December was good for SNC-Lavalin Group Inc. (TSX:SNC) (NYSE:SNC), as the company announced that federal charges have been settled and that a new nuclear contract was won.
Husky Energy’s (TSX:HSE) stock could rebound with the price of oil in 2020. Meanwhile, sentiment could shift for SNC Lavalin (TSX:SNC).
Double your Tax-Free Savings Account balance in 2020 with a long position in SNC-Lavalin Group Inc (TSX:SNC) on the Toronto Stock Exchange in Canada.
It is not surprising the see poor performances and the sharp drop in prices of the Encana stock, SNC-Lavalin stock, and Sierra Wireless stock. Near-term recovery is unlikely.
MONTREAL — SNC-Lavalin Group Inc. on Wednesday settled criminal charges related to business dealings in Libya, with its construction division pleading guilty to a single count of fraud and bringing the engineering giant a step closer to ending a long-standing scandal that tarnished its reputation and ensnared the highest office of the Canadian government.The plea deal includes a $280-million fine to be paid over five years and a three-year probation order, and appears to free SNC-Lavalin from the damaging prospect of a ban on federal contract bidding.The agreement in the Court of Quebec stays all but one of six charges of corruption and fraud brought against SNC-Lavalin and two subsidiaries in 2015.It also stipulates that SNC will engage an independent monitor who will release regular reports and can order changes to the company's compliance and ethics programs.The guilty plea represents an opportunity for the company to turn a corner since questionable practices first surfaced in 2012 and prompted the departure of former chief executive Pierre Duhaime."This is a game-changer for the company and finally allows us to put this issue behind us. I apologize for this past misconduct and welcome the opportunity to move forward," said CEO Ian Edwards, in a statement."The reputation of the company is tarnished," defence lawyer Francois Fontaine told reporters. "Judicially it’s a very good result, but the company still has a lot of work to do to show that it's a new company and gain the confidence of clients."SNC-Lavalin shares soared on the news, closing up $4.58 or 18.99 per cent at $28.70 on the Toronto Stock Exchange. Shares had been halted prior to market open.SNC-Lavalin admitted in its plea that the company — via the actions of top executives Riadh Ben Aissa and Sami Bebawi — defrauded Libya of millions between 2001 and 2011.SNC-Lavalin Construction Inc. relied on a pair of shell companies incorporated in Switzerland and Panama and controlled by Ben Aissa to pay Saadi Gadhafi, son of the late Libyan dictator Moammar Gadhafi, nearly $48 million for contracts he helped secure, "altering the competitive bidding process and causing a loss or a risk of loss to the Libyan people," the Public Prosecution Service of Canada said in a statement.The construction projects, which ranged from the Benghazi airport to the "Great Man-Made River" water pipeline, reaped nearly $1.8 billion in revenue and $104 million in net profit for SNC within a decade.The initial charges, now stayed, had also alleged that the Montreal-based company paid nearly $48 million to public officials to influence government decisions under Gadhafi's regime."This sentence must be a deterrent generally, but must not be crippling," said Crown prosecutor Richard Roy .Asked whether the deal lets the company off easy, he replied that it reflects "the severity of the crime...I challenge anyone to find a fine that is higher than that for a criminal offence."The plea deal comes on the heels of Bebawi's conviction last Sunday, when a jury found the ex-SNC-Lavalin Construction president guilty of paying off foreign officials and pocketing millions as he worked to secure contracts for the company in Libya.One of the biggest risks faced by SNC-Lavalin in the event of a conviction on corruption charges involving foreign officials was its ability to bid for construction projects in Canada and abroad. Under federal law, a bribery offence could result in a bidding ban for federal contracts for up to 10 years. It could also prompt a ban on bidding for projects backed by the World Bank.While fraud committed against the Canadian government is covered under the public works department's integrity regime — and could thus trigger a ban — a fraud offence connected to a foreign government is not, said Kenneth Jull, an expert in financial crimes and corporate compliance at Gardiner Roberts law firm in Toronto."It's very clever. You could say it's almost like a DPA through the back door," said Jull, who has endorsed deferred prosecution agreements (DPA) — a type of plea deal that steers clear of admissions of guilt — as a way to avoid punishing innocent employees for C-suite offences.SNC-Lavalin said in a statement it does not anticipate the guilty plea will affect bidding on future projects by any of its companies."The feared outright ban on public work is far removed from the worst-case scenarios that have floated around the company,” said analyst Maxim Sytchev of the National Bank of Canada.While a cloud may linger above the beleaguered firm, it is "no longer a pariah investment," he said in a note to investors. "We do expect the corruption 'discount' to dissipate over time."Nearly one-third of SNC-Lavalin's $9.3 billion in revenue in 2017 came from Canada, down from roughly a 60 per cent share of revenue in 2014. Analysts estimate that up to half of its Canadian revenue stems from federal contracts.The SNC-Lavalin case became a crisis for the governing Liberals after then-attorney general Jody Wilson-Raybould claimed she was pressured by people in Prime Minister Justin Trudeau's inner circle to settle criminal charges against the company through a new legal tool comparable to a plea deal.Trudeau and his aides had argued that a criminal trial could trigger the company's exit from Canada and the loss of thousands of jobs.Edwards said in October that he did not expect a plea deal on the criminal charges in the wake of the Liberal election victory."We kind of remain focused on defending ourselves through a court process,'' he told investor on an Oct. 31 conference call. "Obviously if there were opportunities for settling this in another way, we'd be open to that. But we don't expect it.''Attorney General David Lametti had refused to shut down the possibility of such an agreement, which would drop the charges against the firm in exchange for SNC admitting responsibility for breaches and agreeing to conditions such as a fine and third-party oversight.Lametti was not involved in the plea bargaining that took place over the past few months, Roy said. Director of Public Prosecutions Kathleen Roussel had been consulted ahead of the plea deal, he added.This report by The Canadian Press was first published Dec. 18, 2019.Companies in this story: (TSX:SNC)Christopher Reynolds , The Canadian Press
MONTREAL , Dec. 18, 2019 /CNW Telbec/ - SNC-Lavalin Group Inc. (SNC.TO) today announced that the federal charges arising from legacy activities in Libya between 2001 and 2011 have been settled. The Court of Quebec has accepted a plea of guilty from SNC-Lavalin Construction Inc. (a subsidiary of SNC-Lavalin Group Inc.) to a single charge of fraud. All charges against SNC-Lavalin Group Inc. and its international marketing arm, SNC-Lavalin International Inc., have been withdrawn.
In the news release, IIROC Trading Halt - SNC, issued 18-Dec-2019 by Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions over CNW, we are advised by the company that the Reason ...
Canadian stock market investors looking for a stock with a potential 30% upside after the new year may want to buy SNC-Lavalin Group Inc (TSX:SNC) stock.