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Keppel refutes report alleging bribery by executives

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Conglomerate Keppel Corp has refuted media reports alleging that its executives were involved in bribery in Brazil.

CONGLOMERATE Keppel Corp has refuted media reports alleging that its executives were involved in bribery in Brazil.

Its comments in a regulatory filing on Wednesday night were in response to a Bloomberg article on Aug 3 reporting allegations made by Zwi Skornicki, the former third-party commercial representative for Keppel in Brazil, in criminal proceedings brought against him in Brazil.

Skornicki alleged that Keppel's top managers authorised him to bribe public officials in exchange for contracts for state-controlled Petroleo Brasileiro (Petrobras).

"Keppel strongly denies the allegations reportedly made that Keppel executives authorised Mr Skornicki to pay bribes on its behalf," it said. "None of the individuals named in the article, including the current CEO of Keppel Offshore and Marine Mr Chow Yew Yuen, have ever authorised Mr Skornicki to make any payments as bribes."

sentifi.com

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