Singapore, 13 January 2016 - 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 and 1 July 2015 in relation to the criminal prosecution of former employees of ST Marine.
We wish to announce that on 13 January 2016, three former employees of ST Marine, Han Yew Kwang (“Han”), Tan Mong Seng (“Tan”) and Mok Kim Whang (“Mok”) were charged in the State Courts of Singapore.
Han was the Chief Operating Officer of ST Marine from June 2002 to June 2007, before leaving in June 2014 as Executive Vice President (Ship Building). Han was previously charged on 1 July 2015 with eight (8) charges under section 6(b) read with section 29(a) of the Prevention of Corruption Act. Han was charged on 13 January 2016 with 473 charges under section 477A of the Penal Code.
Tan was President (Commercial Business) of ST Marine from January 2000, before leaving in June 2002 as Chief Operating Officer/President (Commercial Business) of ST Marine. Tan was previously charged on 1 July 2015 with one (1) charge under section 6(b) read with section 29(a) of the Prevention of Corruption Act. Tan was charged on 13 January 2016 with 445 charges under section 477A of the Penal Code.
Mok was the Senior Vice President (Tuas Yard) of ST Marine from 1 June 2000 to 31 July 2004. Mok was previously charged on 11 December 2014 with one (1) charge under section 6(b) read with section 29(a) of the Prevention of Corruption Act. Mok was charged on 13 January 2016 with 826 charges under section 477A of the Penal Code.
The additional charges against Han, Tan and Mok are not expected to have any material impact on the consolidated net tangible assets or consolidated earnings per share of the ST Engineering Group for the current financial year.
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 will make timely further announcements, if necessary.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index and MSCI Singapore. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
SVP, Corporate Communications
Tel: (65) 6722 1883 / 9696 5453