I just can't link a marine co. with car wash business... ...
Sembcorp Marine lodges report with CAD following Brazil scandal
SEMBCORP Marine said that it has lodged a report with the Commercial Affairs Department of the Singapore Police Force, after revealing last week that its yard in the south-eastern state of Brazil was raided and the facility's former president was involved in a corruption probe.
Present investigations involve Martin Cheah Kok Choon, the former president of SembMarine's Brazil unit Estaleiro Jurong Aracruz (EJA), during the time when he was in the employment of the group.
In this light, SembMarine has "lodged a suspicious transaction report . . . with the Commercial Affairs Department of the Singapore Police Force", according to its exchange filing on Monday.
SembMarine said that Mr Cheah's employment with the group was terminated in June 2015.
Other than Mr Cheah, "the company is not aware that any director or management of the company is a subject of the current investigations being conducted by the Brazilian authorities", it said.
SembMarine Brazil unit involved in Operation Car Wash probe over ex-consultant
SEMBCORP Marine (SembMarine) on Wednesday said it has cooperated fully with the Brazilian Federal Police after a search warrant was executed on Estaleiro Jurong Aracruz (EJA), its subsidiary in Brazil.
The search warrant was in connection with ongoing investigations related to Operation Car Wash in Brazil, the country’s biggest anti-graft crackdown which sent former president Luiz Inacio Lula da Silva to jail.
The offshore and marine firm understands the search relates to investigations against Guilherme Esteves de Jesus, a former consultant engaged by EJA in Brazil who has been arrested by the Brazilian Federal Police. He is facing ongoing criminal charges which have not been concluded.
Present investigations also involve Martin Cheah Kok Choon, EJA’s former president, the company added.
SembMarine said it has a strict compliance programme and continuously works to ensure its policies and procedures are in place to prevent any violation of anti-corruption laws applicable to its operations.
"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," it said.
The company added that it will continue to monitor developments in Brazil and other jurisdictions regarding the matter and will make appropriate announcements when there are any material developments.
<!-- isHtml:1 -->Behaviour shapes attitudes, and over a period of time, solidifies into beliefs.