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Deloitte Anjin loses HMM contract

Photo of Sam Chambers Sam ChambersApril 4, 2016
7 Less than a minute

Korea Development Bank (KDB) has ditched due Deloitte Anjin to carry out due diligence on Hyundai Merchant Marine (HMM) because of the accounting firm’s troubles in covering another KDB bailout firm, Daewoo Shipbuilding & Marine Engineering (DSME).

A massive accounting fraud running into trillions of won was unearthed at shipyard DSME last year. KDB is the largest shareholder in DSME.

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Photo of Sam Chambers Sam ChambersApril 4, 2016
7 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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