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News - Detailed News Story

Sembcorp Marine

Stock Chart
Last Done 1.220
Change - (-)
Volume 2,320.9
Range 1.200 - 1.220

Sembcorp Marine lodges report with CAD following Brazil probe

10 Jul 2019 09:00

By Lynette Tan

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.


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Source: Business Times
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