This comes after Keppel O&M said it had reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by Keppel O&M's former agent in Brazil, Zwi Skornicki in 2017.
As part of the global resolution, Keppel O&M will pay fines totalling US$422 million to the three jurisdictions.
Of the US$422 million, Keppel O&M has paid US$52.8 million to Singapore (within 90 days from the date of the conditional warning), and further US$52.8 million within three years from the warning.
Shares in Keppel Corp closed flat at $6.18 on Wednesday.
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See also:
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- Keppel Corp’s man in Brazil says managers backed bribes
- Keppel Corp’s internal investigations uncovers ‘suspicious’ transactions
- Keppel O&M fined US$422 mil as part of resolution over bribes for contracts by ex-agent Skornicki
- Keppel units paid about $74 mil to win 13 Petrobras contracts in more than a decade
- Ex-Keppel lawyer secretly cooperated with US in bribery probe: documents
- Keppel O&M sanctioned 17 current, former employees over Brazil bribery case: document
- What Keppel's corruption scandal means for investors
