Update on CPIB Investigations into Seatrium
Prime Minister's OfficeSpeakers
Summary
This question concerns MP Leong Mun Wai’s request for an update on investigations by the Corrupt Practices Investigation Bureau into Seatrium Limited regarding corruption in Brazil. Minister Indranee Rajah reported that investigations are complete, resulting in two individuals being charged with corruption and one additionally charged with obstruction of justice. The Public Prosecutor is negotiating a deferred prosecution agreement (DPA) with the company, which involves a proposed financial penalty of US$110 million for the offences. Under the DPA, up to US$53 million of this penalty may be used to offset Seatrium’s in-principle settlement payments with the Brazilian authorities. Any concluded DPA remains subject to approval by the General Division of the High Court, as outlined in the joint press release from March 2024.
Transcript
6 Mr Leong Mun Wai asked the Prime Minister in view of Seatrium's announcement that it has reached in-principle settlement agreements with the Brazilian authorities, whether an update can be provided on the CPIB investigations into Seatrium and individuals of the company for alleged corruption offences that occurred in Brazil.
Ms Indranee Rajah (for the Prime Minister): The Corrupt Practices Investigation Bureau (CPIB) has completed its investigations into Seatrium Limited (formerly, Sembcorp Marine Limited) (the Company) and individuals from the Company.
In the Joint Press Release by CPIB and the Attorney-General’s Chambers dated 28 March 2024, it was announced that:
(a) two individuals have been charged with corruption offences involving the payment of bribes for the benefit of persons in Brazil; and one of those individuals has also been charged with obstruction of justice. Details of the individuals and the charges can be found in the Joint Press Release; and
(b) the Public Prosecutor is in discussions with the Company on a deferred prosecution agreement (DPA) in respect of the alleged corruption offences that occurred in Brazil. Under the proposed DPA, the Company will be required to pay a financial penalty of US$110 million. Of this amount, up to US$53 million may be used to offset the settlement payment totalling R$670,699,731.73 under the in-principle settlement agreements that the Company has reached with the Brazilian authorities. Any concluded DPA will be subject to the approval of the General Division of the High Court.
The Member may wish to refer to the Joint Press Release for other relevant information.