The Corrupt Practices Investigation Bureau (CPIB) began investigating Seatrium in May 2023 for alleged corruption offences in Brazil.
Since its proposed name change in April 2023, Seatrium, formerly known as Sembcorp Marine (SGX:S51
) (SembMarine), has been trying to keep its announcements positive and give its share price a lift.
However, this effort has been marred by occasional news of its involvement with Operation Car Wash, an anti-corruption probe launched by the Brazilian authorities in 2014. The latest announcement was made on June 15, when the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) requested further information from Seatrium regarding the probe. MAS and CAD were conducting joint investigations into offences potentially committed by the company.
