Keppel Offshore & Marine CEO earns millions in remuneration

Keppel Offshore & Marine CEO earns millions in remuneration

The Independent·2018-01-02 09:05

By: Vincent Low

Last week, newsbroke that Keppel Offshore & Marine was involved in a mega bribery case in Brazil. Some US$55 million were reported to have been paid by a Keppel agent to Brazilian govt officials in order for Keppel to secure deals in Brazil. These “improper payments” were made over a period from 2001 to 2014, and they were carried out with the knowledge or approval of former Keppel senior executives.

When Bloomberg broke the news last Aug, reportingthat 5 of the Keppel senior executives, including then Keppel Offshore & Marine CEO Chow Yew Yuen, had been named in a Brazilian court as the people who had authorized the agent to pay bribes, Keppel quickly issued a public statement to deny the allegation.

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