The latest move is on top of the 12-month extension that had been previously granted. The company had initially accepted a conditional warning of 3-years in 2017.
Keppel O&M’s CPIB payment follows a corruption scandal it was involved in between 2001 and 2014.
In this time, the company had made bribes of up to US$55 million to officials of Petrobras, a Brazilian state-run oil company, as well as other parties.
More recently in 2017, the company reached a global resolution with criminal authorities in the US, Brazil and Singapore.
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As part of this, it will have to pay up fines amounting to US$422.2 million, to be allocated between the US, Brazil and Singapore.
Keppel O&M had subsequently accepted a conditional warning from the CPIB. It had committed to paying US$52.7 million within 90 days from receiving that warning, and a further US$52.7 million within 3 years of that, less any penalties paid to Brazilian authorities during this period.
Shares of Keppel ended Tuesday flat at $5.18.
Cover image: file photo
