21 Feb 2020

Update on Brazil

Singapore, 21 February 2020:

Background
The Company refers to the earlier statements made by the Company on 30 March 2015, and 21 February 2018 where the Company referred to the arrest and criminal charges brought by the Brazilian Federal Prosecutors (“MPF”) against Mr Guilherme Esteves de Jesus (“GDJ”). Those charges alleged, among other things, that GDJ made certain payments in connection with contracts entered into in Brazil by certain subsidiaries of the Company. GDJ is connected to the consultant engaged by the Company’s subsidiaries in connection with the drilling unit construction contracts for subsidiaries of Sete Brasil. GDJ defended the charges throughout the criminal proceedings against him.

Court Verdict
The Company has learnt on 20 February 2020 that GDJ has been convicted by the Federal Courts of Curitiba of the crimes of corruption, money laundering and participation in a criminal organization. GDJ was sentenced to 19 years and 4 months in prison and was also fined.

Ongoing Proceedings in Brazil
As noted in the Company’s earlier statement made on 3 February 2020, the MPF have filed further charges against GDJ for money laundering, and this proceeding is still ongoing.

As noted in the Company’s announcement dated 3 February 2020, other than Martin Cheah (the former President of Estaleiro Jurong Aracruz Ltda (“EJA”), the Company’s Brazilian subsidiary), the Company is not aware of any other employee past or present of the Company that is a subject of the ongoing investigations by the Brazilian authorities related to Operation Car Wash.

The Company and the Group are committed to the highest standards of compliance with the anti-corruption laws and do not condone and will not tolerate any improper business conduct. The Company and the Group have a strict compliance program and continuously work to ensure that policies and procedures are in place to prevent any violation to any anti-corruption laws applicable to our operations.

The Company will continue to monitor developments in Brazil and other jurisdictions with respect to this matter.

For more information, please contact:

Analysts’ enquiries
Ms Lisa Lee
Head of Investor Relations
DID: +65 6971 7042
Email: lisa.lee@sembmarine.com

Media enquiries
Mr David Wong
Head of Corporate Communications
DID: +65 6971 7039
Email: david.wong@sembmarine.com

 

For the PDF version of this announcement, please click here

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