Keppel refutes Operation Car Wash allegations (Amended)

SINGAPORE-LISTED conglomerate Keppel Corp refuted allegations by Zwi Skornicki in his July 21 testimony in Brazil in connection with the ongoing Lava Jato, or Operation Car Wash, investigations regarding the company's alleged involvement in the illegal payments made by Mr Skornicki.

In a filing to Singapore Exchange on Sunday night, Keppel reiterated its zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates, and said it will take all necessary steps to eradicate such conduct if discovered.

It said it is unable to comment further in view of the ongoing investigations.

Brazilian press reports on the court hearing for Operation Car Wash, the code name for an anti-corruption probe being carried out by the Federal Police of Brazil, said Mr Skornichi admitted to handing over cash to the publicists of Dilma Rouseff's 2010 presidential election campaign.

In testimonies heard earlier this year, Mr Skornichi was said to have made illegal payments in connection with contracts entered into between certain Keppel entities with Petrobras and/or Sete Brasil.

Keppel had previously said it has put the agency relationship with Mr Skornichi on hold pending determination by the relevant authorities into the allegations made on the matter.

Amendment note: The original text misspelt Operation Car Wash as Operation Car Cash. The story above has been revised to correct the error.