Singapore’s Corrupt Practices Investigation Bureau (CPIB) is investigating Seatrium Offshore Engineering. Seatrium is a shipyard entity created through a 2023 $1.5bn merger between Singapore oil rig builders, Sembcorp Marine and Keppel Offshore & Marine. Both Sembcorp and Keppel had been linked to corruption cases in Brazil involving the multi-billion dollar “Operation Car Wash” investigation.
A Seatrium statement said that the CPIB’s investigation is related to events prior to 2015 and the investigations concern the then existing Sembcorp Marine group. This preceded the merger with Keppel Offshore & Marine. Keppel O&M was fined $422m globally last year after admitting to bribes paid between 2001 and 2014.
Tags: regulation,finance and insurance,Asia,America,corruption,car wash operation,sembcorp marine,Seatrium