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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
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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: Arbitration award made in favour of Q&M Dental Group’s Malaysia unit

"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%.

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