(OE) Brazilian authorities have reportedly launched a preliminary investigation into the Brazilian subsidiary of the Singapore-based marine and offshore engineering group Sembcorp Marine.
“Sembcorp Marine Ltd wishes to inform that it has come to its knowledge that the Office of the Comptroller General of Brazil (“CGU”) has published a notice in the Official Gazette (the “Notice”) to the effect that CGU has initiated a preliminary administrative liability proceeding against the Company’s subsidiary, Estaleiro Jurong Aracruz Ltda (“EJA”) for the investigation of alleged irregularities practiced by EJA,” Sembcorp Marine said Friday.
The company said that the CGU notice did not provide further facts,”and the company is currently unable to assess the matter or impact, if any.”
“EJA is cooperating fully with the authorities. The company will continue to monitor developments in Brazil with respect to the above, and will make appropriate announcements in the event of any material developments,” Sembcorp Marine said.
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