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Swiber under investigation by CAD

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SINGAPORE'S white-collar crimebusters have come knocking on the doors of Swiber Holdings.

SINGAPORE'S white-collar crimebusters have come knocking on the doors of Swiber Holdings.

Swiber said on Wednesday it has received a notice dated Nov 15 from the Commercial Affairs Department (CAD) stating that it is now investigating an offence under the Securities and Futures Act (Chapter 289).

CAD has requested access to information concerning the firm, Swiber Offshore Construction Pte Ltd, Pape Engineering Pte Ltd and Swiber Corporate Pte Ltd from Jan 1, 2012, till now.

These include corporate secretarial documents, all announcements made on Singapore Exchange including draft versions and comments made by directors or other relevant personnel, relevant accounting records and order books, documents pertaining to certain projects, and relevant technology equipment and corporate emails.

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"The company will cooperate fully with the CAD in its investigations and will make announcements as and when there are further significant developments with regard to this matter," Swiber said.

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