As the PAP continues to prevent further embarrassment to its elites, governance at Keppel Corporation has now turned into a joke.
On 30 December, KepCorp’s O & M unit reported that 17 current and former employees have been sanctioned over the Brazil bribery case. CNA
Or perhaps fewer employees were engaged in criminal acts over 13 years which resulted in the record US$422 million fine for a GLC? TNP
Investigations must have been ongoing for months but were only disclosed yesterday.
As a subsidiary of public-listed KepCorp, the government-linked company appears to have no shareholders to answer to.
Keppel: “For legal reasons, Keppel is unable to comment on any individual employee, or the specific penalties imposed against individuals.”
The truth: 2 of its employees involved happened to be former KOM CEOs. They are:
1. Choo Chiau Beng, also former Keppel Corp CEO
2. Chow Yew Yuen
A record criminal fine has been paid by Keppel and part of this will be borne by taxpayers. KepCorp should come clean by disclosing the names of all involved and action taken against each employee.
It’s a totally ridiculous situation where a public-listed GLC could suka suka conceal information belonging in the public domain.
Are Singaporeans so stupid to believe that imposing sanctions on nameless employees in the biggest GLC bribery case is good corporate governance?