MAS and CAD probing Seatrium under SFA over Operation Car Wash
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 14 2024
0mins
Source: Yahoo Finance
- Seatrium Investigation: Seatrium is under investigation by the Monetary Authority of Singapore and the Commercial Affairs Department for potential offences related to a bribery case in Brazil.
- Deferred Prosecution Agreement (DPA): Seatrium had agreed to a DPA with a financial penalty of US$110 million, pending court approval.
- Cooperation with Authorities: Seatrium is providing full cooperation to Singapore authorities by furnishing requested information for the investigations.
- Share Price Movement: Seatrium's shares closed at $1.67 on June 14, down 1.76% following the news of the investigation.
- Other Updates: Seatrium's non-executive independent director resigned, and the company was awarded a contract to build an HVDC system for TenneT.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
