Singapore GLC Keppel O&M pays US$422m fine to settle corruption probe
Singapore’s reputation as one of the least corrupt countries in the world has taken a hit.
Given , it’s extremely rare to hear cases of large-scale corrupt practices committed by Singaporeans or Singapore companies spanning a long period of time.
Hence, the news of government-linked company (GLC) Keppel Corporation’s offshore and marine unit reaching a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by a former agent in Brazil for more than a decade, came as a huge shock to the system.……
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