The charges were filed against both individuals in their own personal capacities and not against Estaleiro Jurong Aracruz. Under Brazilian law, the Federal Prosecutors’ Office may appeal the decision to acquit Cheah and de Jesus.
Seatrium notes that the outcome of Operation Car Wash as well as the impact of the court’s decision on ongoing investigations or allegations are still unknown.
The company says it is providing its full cooperation with Brazilian authorities and will continue to monitor developments and make relevant announcements in the event of any developments.
Shares in Seatrium closed 0.1 cents higher or 0.89% up at 11.3 cents on Dec 26.
