World

Singapore firm to pay over 400 million USD fine in bribery probes

Singapore's Keppel Corporation's Offshore & Marine unit (Keppel O&M) has agreed to pay a 422 million USD fine for the US, Brazil and Singapore in bribery probes.
Singapore firm to pay over 400 million USD fine in bribery probes ảnh 1An oil rig of Keppel (Source: todayonline.com)

Hanoi (VNA) - Singapore's Keppel Corporation's Offshore & Marine unit(Keppel O&M) has agreed to pay a 422 million USD fine for the US, Braziland Singapore in bribery probes.

Accordingto US authorities, an US-based affiliate of Keppel, which specialises in oilrigs and shipyards, participated in a bribery network led by a Braziliannational. Companies of the network offered bribes of about 50 million USD forsome Brazilian officials and illegally obtained 350 million USD.

Keppelsaid in a statement in Singapore that the cases stemmed from "improperpayments" made by a former agent of the corporation to Braziliangovernment officials between 2001 and 2014 in relation to various projects withBrazil’s state-owned oil giant Petrobras and Sete Brasil, a supplier of oilrigs.

Keppelsaid it cooperated fully with officials in all three countries and in theinvestigation. Following the settlement, Keppel will continue its operations inthe US and Brazil and the incident will not affect its operation in thosemarkets and other countries.-VNA 

VNA
#Singapore #Keppel Corporation #bribery probes #oil rigs #bribery network #Brazil #US #government officials #vietnamplus #Vietnam News Agency Singapore
Follow VietnamPlus

Related News

Singapore raises 2017 economic growth forecast

Singapore raises 2017 economic growth forecast

The Ministry of Trade and Industry (MTI) of Singapore said on November 23 that it decided to adjust the country’s economic forecast this year to 3-3.5 percent from an earlier prediction of 2-3 percent.
Singapore prioritises ASEAN integration goal

Singapore prioritises ASEAN integration goal

Promoting integration within the Association of Southeast Asian Nations (ASEAN) will be the overriding priority of Singapore when the country takes the rotating chairmanship of ASEAN in 2018, Singaporean Minister for Foreign Affairs Vivian Balakrishna has told a Vietnam News Agency correspondent.

See more

Indonesian Muslims gather at Istiqlah Mosque ahead of the prayer service. (Photo: VNA)

Ramadan begins in Indonesia

Throughout the holy month, Muslims devote time to deep reflection and prayer. They fast from sunrise to sunset, abstaining from food and drink while focusing on good deeds and strengthening their faith.

Illustrative image (Source: VNA)

Malaysia remains top destination for European, US investors

It stated that large international companies such as Intel, Amazon Web Services, Oracle, Google, and Plexus continued to commit to investing or increasing their investments in Malaysia, making the country one of the primary destinations for over 600 US companies.

Thai Prime Minister Paetongtarn Shinawatra (Photo: Xinhua/VNA)

Thai PM pledges to step up economic growth

In her weekly Empowering Thais programme on March 2 morning, Thai Prime Minister Paetongtarn Shinawatra said the Southeast Asian country's gross domestic product (GDP) grew by only 2.5% last year because it had not invested substantially in new industries and had not prepared the people for future industries over the past decade.

Malaysian Digital Minister Gobind Singh Deo speaks during the Public Sector Artificial Intelligence Adaptation Guidelines’ launching ceremony in Kuala Lumpur, on February 27. (Photo: selangorjournal.my)

Malaysia launches AI adaptation guidelines for public sector

The 158-page guidelines provide an overview of AI, ethical principles, roles and responsibilities of stakeholders, risk management, adaptation methods, and self-assessment templates to help identify the scope and impact of AI within the public sector.

Illustrative image (Photo: Internet)

Thai rice faces mounting competition, high costs

President of the Thai Rice Exporters AssociatioCharoen Laothammatas predicted that the figure will reach 7.5 million tonnes this year, a 24.2% drop from last year’s 9.94 million tonmes.

Singapore guardsmen complete an obstacle course during exercise Valiant Mark with U.S. Marine Rotational Force-Southeast Asia in Singapore in December 2024. (Photo: SGT. SHAINA JUPITER/U.S. MARINE CORPS)

Singapore army invests in uncrewed systems to address manpower shortages

The declining number of service members as the “greatest internal challenge” facing the Singapore Armed Forces (SAF). To tackle this, Singapore is increasing automation and assigning conscripts and national reservists, known as “NSmen,” to roles aligned with their civilian expertise to boost efficiency and effectiveness.

Indonesia to use its benchmark coal price for transactions from March 1 (Photo: Theinvestsor)

Indonesia to adjust coal price policy

Vietnam, a key importer of Indonesian coal, imported 2.49 billion USD worth in 2024. Coal remains Vietnam’s largest import from Indonesia, contributing significantly to the 4.34 billion USD in total imports from the country

Cambodian Prime Minister Samdech Thipadei Hun Manet (Photo: VNA)

Vietnam attends Islam-Buddhism Summit in Cambodia

Vietnamese Ambassador to Cambodia Nguyen Minh Vu participated in the Islam-Buddhism Summit in Phnom Penh on February 27. The event focused on sharing experience in fostering peaceful religious coexistence, cooperation, and harmony in the region and the world.