Continue reading this on our app for a better experience

Open in App
Home News Company in the news

MAS and CAD probing Seatrium under SFA over Operation Car Wash

The Edge Singapore
The Edge Singapore  • 1 min read
MAS and CAD probing Seatrium under SFA over Operation Car Wash
Photo: Seatrium
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Seatrium says that the Monetary Authority of Singapore and the Commercial Affairs Department have on June 14 requested for information as part of their joint investigation on the company.

The potential offences are in connection to the long-drawn bribery case in Brazil, dubbed Operation Car Wash.

According to Seatrium, the potential offences are committed by then Sembcorp Marine and its "officers" under the Securities and Futures Act.

Just on March 28, Seatrium announced that the Attorney-General’s Chambers is agreeable to enter into a deferred prosecution agreement with a financial penalty of US$110 million, following probes made by the Corrupt Practices Investigation Bureau.

In a statement on March 28, Seatrium says that the DPA is not definitive yet and is subjected to the approval of the court.

"The MAS and the CAD have requested for further information from the company for the purpose of the Investigations," says Seatrium on June 15.

See also: SATS to terminate lease for food hub

"The company continues to provide its full cooperation to the Singapore authorities."

The company will continue to monitor the situation and make appropriate announcements in the event of any material developments.

Seatrium shares closed at $1.67 on June 14, down 1.76%.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.