Keppel Corp pays S$570m to resolve bribery probes

[RH1667]

wah so many facilitation experts around

 

 

 

 

learnt a new term  today.

Thank you Elite. 

[Jman888]

I didnt say he (bro kopites) said they (kom) are innocent.....but werent they found to be guilty and fined hundreds of millions of dollars. That sure spells 'guilty' to me (only) but then it is said it is a common occurrence in the shipping industry.....if common and paperwork done doesnt it mean it is legal so arent they 'innocent'?

Maybe got people complaint.

[inlinesix]

yeah ... USA sibei "ghim"... so kilat that always act "biggest kettle calling the small pot black"

 

It is all because of this:

https://en.wikipedia.org/wiki/Foreign_Corrupt_Practices_Act

 

"Keppel Offshore also accepted a conditional warning from the Corrupt Practices Investigation Bureau in Singapore and its Brazil unit reached a leniency agreement with the Prosecutor’s Office in Brazil, its parent Keppel Corp. said in a statement Saturday. The $422 million in fines will be allocated between the U.S., Singapore and Brazil, it said."

https://www.bloomberg.com/news/articles/2017-12-22/keppel-offshore-agrees-to-pay-422-million-to-end-bribe-probe

 

Need to know what's the condition.

[Kusje]

learnt a new term  today.

Thank you Elite. 

 

I learned it too.

[Enye]

In this case, ppl do know that facilitation payment is required to enter market like Brazil.

 

Executive is just doing what's required.

 

I don't think Company reputation is affected.

 

Fine is nothing compared to upside of such a big market where large offshore oil shell was found

 

wah....you senior management in finance make this type of comments 

 

heng you work in Beijing

 

learnt a new term  today.

Thank you Elite. 

 

you are welcome boss

 

but thank @davidtch instead....

 

btw happy new year to you too!

 

[Chongster]

The Uk anti bribery act and US foreign corrupt practices act has extraterritorial reach. Won’t be surprised if this doesn’t end here.

Edited December 26, 2017 by Chongster

[inlinesix]

wah....you senior management in finance make this type of comments 

 

heng you work in Beijing

 

 

you are welcome boss

 

but thank @davidtch instead....

 

btw happy new year to you too!

 

 

I am going to be jobless soon..........................

 

In China, Bribe is also NO no hor.

 

[Kusje]

The Uk anti bribery act and us prevention of corruption act has extraterritorial reach. Won’t be surprised if this doesn’t end here.

 

The fines already includes $$$ to USA already.

 

But this is only for Keppel. Sembcorp has similar issues but not settled yet. BTW, I think the fines and conditional settlement are just for the company - remains to be seen how the individuals involved will be handled.

Edited December 26, 2017 by Kusje

[Kusje]

I am going to be jobless soon..........................

 

In China, Bribe is also NO no hor.

 

 

Jobless by choice right? Or rather, wife's choice.

[Evillusion]

yeah ... USA sibei "ghim"... so kilat that always act "biggest kettle calling the small pot black"

Its like that wan.....big fish eat small fish..

[Jamesc]

Companies have mission, vision and value statements.

 

This company got nothing about ethics and morality?

 

 

[Evillusion]

I was wondering who else Kenna... Or is it just keppel extra stupid to be caught.. maybe in Singapore it's so easy to get away with ridiculous stuff they think it's the same elsewhere and don't even bother to make an effort.

Petrobras and the US firm also kana but dont know they got give $500 million or not to the 3 countries.....

[inlinesix]

The fines already includes $$$ to USA already.

 

But this is only for Keppel. Sembcorp has similar issues but not settled yet. BTW, I think the fines and conditional settlement are just for the company - remains to be seen how the individuals involved will be handled.

 

if Singapore don't have US subsidiary, it will not be affected by that law.

 

[Kusje]

I was wondering who else Kenna... Or is it just keppel extra stupid to be caught.. maybe in Singapore it's so easy to get away with ridiculous stuff they think it's the same elsewhere and don't even bother to make an effort.

 

google car wash brazil

[Evillusion]

Maybe got people complaint.

Maybe got CIA,NSA,FBI, ATF (hahaha) agents.........South America is USA backyard and they always wants to put their hand into the brew cooking in their backyard.

[Kopites]

Maybe got people complaint.

Wow didn't realise git such heated debate. Hahaha

 

Well whether innocent or deem not let the law deal with them. Not up to us peasant.

 

In every industry there are many unwritten rule and traits that not yet surfaced until some unhappy parties involved turn onto whistle blower. If the amount is huge definitely will cost heated debate. If small likely to be sweep under the carpet.

Its like that wan.....big fish eat small fish..ððð. USA, China, Russia all play the same game........

Not only countries. Even business world you see everywhere big fish eat small fish.

 

What can we do? Me just a small office boy...nothan much say to upheld moral and sanity entice in the company. Just do as was told.

Companies have mission, vision and value statements.

 

This company got nothing about ethics and morality?

 

ð

Ethics and moral?

 

Ya...annual tree planning event. Annual donation to temple and church/clan/association etc.

 

Haha

[Kopites]

Do those company that openly seeking donation for their annual D&D event constitute an act bribery in return of an better working relationship next year? I scratch head.

 

This case blow out of proportion because it is a GLC and also due to the huge amount (don't compare to najib) hahaha

[Evillusion]

Wow didn't realise git such heated debate. Hahaha

 

Well whether innocent or deem not let the law deal with them. Not up to us peasant.

 

In every industry there are many unwritten rule and traits that not yet surfaced until some unhappy parties involved turn onto whistle blower. If the amount is huge definitely will cost heated debate. If small likely to be sweep under the carpet.

Not only countries. Even business world you see everywhere big fish eat small fish.

 

What can we do? Me just a small office boy...nothan much say to upheld moral and sanity entice in the company. Just do as was told.

Ethics and moral?

 

Ya...annual tree planning event. Annual donation to temple and church/clan/association etc.

 

Haha

In mcf oso same......big fish eat small fish! I oni fish fry....bo lang kua...