Sembcorp Marine (SembMarine) , on March 29, says the preliminary administrative proceedings against its Brazilian subsidiary Estaleiro Jurong Aracruz Ltda (EJA) is related to the “past conduct” investigated by the Brazilian authorities in connection with Operation Car Wash.
On March 24, the company announced that the Comptroller General of the Union (CGU) had begun a “preliminary administrative liability proceeding” against EJA for the investigation of alleged irregularities practised by SembMarine’s Brazilian subsidiary.
The CGU has not brought any civil or administrative charges against SembMarine or its subsidiaries yet. SembMarine adds that it will continue to cooperate and work with the Brazilian authorities on its investigations.
Shares in SembMarine closed 0.5 cents higher or 4.76% up at 11 cents on March 28.
