Sembcorp Marine said Wednesday Brazilian authorities executed a search warrant on a subsidiary, Estaleiro Jurong Aracruz Ltda, or EJA, as part of the Operacao Lava Jato corruption investigation.
Operacao Lava Jato, or Operation Car Wash, has been investigating allegations of corruption at state oil company Petrobras.
“The company has co-operated fully with the Brazilian Federal Police and provided materials within the scope of the warrant,” SembMarine said in a filing to SGX.
SembMarine said it understood the search was related to investigations against Guilherme Esteves de Jesus, a former consultant to EJA who was arrested by the Federal Police.
The investigation also involves Martin Cheah Kok Choon, EJA’s former president, the filing said.
“The company wishes to reiterate that the group is committed to the highest standards of compliance with anti-corruption laws and does not condone and will not tolerate any improper business conduct,” SembMarine said.
“The group has a strict compliance program and continuously works to ensure that policies and procedures are in place to prevent any violation of any anti-corruption laws applicable to our operations,” it added.
In late 2017, Singapore peer Keppel Offshore and Marine agreed to pay US$422 million in fines to resolve charges it bribed Brazilian and Petrobras officials, Reuters reported.
While you’re here, we’re hoping you can help us out.
Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.
Your monthly contribution will directly fund our journalism.
You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.