SINGAPORE: Seatrium, one of the world's largest offshore and marine engineering companies, said it believes that a corruption probe that was announced on Wednesday (May 31) relates to events that
that was announced on Wednesday relates to events that"occurred prior to 2015" and to the Sembcorp Marine group, as Seatrium was known at the time.
The Corrupt Practices Investigation Bureau said on Wednesday it had begun investigations against Seatrium and individuals from the company on alleged graft offences that took place in Brazil. In March this year, Seatrium announced that its wholly-owned Brazilian subsidiary, Estaleiro Jurong Aracruz, was being investigated for “alleged irregularities” over its practices.
However, on Apr 28, it said that preliminary administrative proceedings against its Brazilian subsidiary were suspended.
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