Singapore: See Leong Teck, the former president of shipbuilder Singapore Technologies (ST) Marine has been charged with corruption.
He is the fourth ST Marine official to be charged following three other officials who were charged earlier this month.
See Leong Teck, who was president of the company from December 1997 to February 2008, faced seven charges under the Prevention of Corruption Act. He is said to have conspired with four others to pay $556,174 bribes in total to agents of customers. The bribes were allegedly in return for ship repair contracts.
ST Marine said that the group is committed to maintaining high standards of corporate governance and recognizes that fraud is detrimental to its reputation.
"ST Engineering does not condone fraud, including corruption and bribery, and is fully committed to proactively mitigating the risk of its occurrence," ST Marine said in an announcement. [30/12/14]