Singapore authorities investigating Seatrium over potential offences linked to Brazil corruption case
SINGAPORE: Singapore authorities are investigating offences doubtlessly dedicated by Seatrium which will seemingly be linked to a corruption case in Brazil.
The Monetary Authority of Singapore (MAS) and the police’s Business Affairs Department (CAD) hang asked for additonal knowledge from the firm for the motive of the investigations, Seatrium stated in a Singapore Alternate submitting on Saturday (Jun 15).
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The alleged offences fall below the Securities and Futures Act 2001, the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Advantages) Act 1992, and all old versions of those regulations.
The investigation is in connection with Operation Vehicle Wash, a protracted-operating corruption case in Brazil.
Seatrium used to be formed in 2023 following the merger of Singapore’s two main offshore and marine companies – Sembcorp Marine and Keppel Offshore & Marine (KOM).
It stated on Saturday that this is able to perchance proceed to originate its elephantine cooperation to the authorities.
“The firm will proceed to observe the peril and plot appropriate announcements in the tournament of any enviornment matter developments,” stated Seatrium.
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Source: Reuters
