SINGAPORE (June 11): Keppel Corporation announced on Thursday, that the Office of the Comptroller General of Brazil (CGU) has begun an administrative enforcement procedure (AEP) against Keppel Offshore & Marine (Keppel O&M), Prismatic Services Ltd., Keppel Fels Ltd., Keppel FELS Brasil S.A., and BrasFELS S.A., in relation to its bribery case in 2017.
The CGU will further look into the matter, and the panel will decide whether any summons will be served on the defendants.
This comes after Keppel O&M said it had reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by Keppel O&M's former agent in Brazil, Zwi Skornicki in 2017.
As part of the global resolution, Keppel O&M will pay fines totalling US$422 million to the three jurisdictions.
Of the US$422 million, Keppel O&M has paid US$52.8 million to Singapore (within 90 days from the date of the conditional warning), and further US$52.8 million within three years from the warning.
Shares in Keppel Corp closed flat at $6.18 on Wednesday.
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See also:
- Keppel Corp’s man in Brazil says managers backed bribes
- Keppel Corp’s internal investigations uncovers ‘suspicious’ transactions
- Keppel O&M fined US$422 mil as part of resolution over bribes for contracts by ex-agent Skornicki
- Keppel units paid about $74 mil to win 13 Petrobras contracts in more than a decade
- Ex-Keppel lawyer secretly cooperated with US in bribery probe: documents
- Keppel O&M sanctioned 17 current, former employees over Brazil bribery case: document
- What Keppel's corruption scandal means for investors
