Ex-ST Marine president gets 14 days' jail for breaching Companies Act

THE former president of Singapore Technologies Marine Ltd (ST Marine) has been sentenced to 14 days' jail for breaching section 157(1) of the Companies Act.

Chang Cheow Teck had on Thursday pleaded guilty to one count of failing to act honestly and use reasonable diligence in the discharge of the duties of his office, ST Engineering said in a filing to the local bourse.

The maximum penalty for this offence is a fine not exceeding S$5,000 or a jail term not exceeding 12 months.

Chang was president of ST Marine from March 2008 to April 2010 and was the the ex-president of Singapore Technologies Aerospace Ltd from May 2010 to June 2014.

He is among the group of seven former ST Marine senior executives prosecuted for offences related to corrupt payments in granting of ship-repair contracts.

In December 2014, Chang was charged with giving almost S$274,000 in bribes on three occasions but the prosecution withdrew the three corruption charges on Thursday.