Singapore, 5 June 2017 - On 12 September 2011, Singapore Technologies Engineering Ltd (“ST Engineering”) announced that the Corrupt Practices Investigation Bureau (“CPIB”) was investigating certain transactions involving former and current employees of Singapore Technologies Marine Ltd (“ST Marine”). ST Marine has been extending its fullest cooperation to the CPIB in its investigation since 2011.
We also refer to our announcements on 11 December 2014, 30 December 2014, 10 June 2015, 1 July 2015, 13 January 2016, 30 August 2016, 27 September 2016, 2 December 2016, 5 January 2017 and 6 April 2017 in relation to the criminal prosecution of former employees of ST Marine.
We wish to announce that on 5 June 2017, Ong Teck Liam (“Ong”), the former Group Financial Controller and Senior Vice President (Finance) of ST Marine from April 2007 to December 2012, was sentenced to a fine of S$300,000, in default 30 weeks’ imprisonment. Ong pleaded guilty on 19 February 2016 to ten (10) charges under section 477A of the Penal Code.
ST Engineering is committed to maintaining high standards of corporate governance and recognises that fraud is detrimental to the reputation of the ST Engineering Group. ST Engineering does not condone fraud, including corruption and bribery, and is fully committed to proactively mitigating the risk of its occurrence.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. It has global presence with offices in Asia, the Americas, Europe and the Middle East and employs about 22,000 employees. Across the globe, its employees bring innovation and technology together to create smart engineering solutions for its customers in the defence, government and commercial segments. Headquartered in Singapore, ST Engineering reported revenue of S$6.68b in FY2016 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore and the SGX Sustainability Leaders Index. Please visit www.stengg.com for more information.
Head, Corporate Communications and Investor Relations
Tel: (65) 6722 1818