SINGAPORE: The former president of Singapore Technologies Marine (ST Marine), See Leong Teck, was on Tuesday (Dec 30) charged with corruption-related offences in the State Courts. He joined three other former senior executives who were charged earlier this month.
See, who was president of the firm from December 1997 to February 2008, faced seven charges under the Prevention of Corruption Act, parent company Singapore Technologies Engineering (ST Engineering) said in a stock market filing on Tuesday.
Former ST Marine group financial controller and senior vice-president (finance) Ong Tek Liam, former ST Marine president Chang Cheow Teck and former senior vice-president (Tuas Yard) Mok Kim Whang were charged under the Prevention of Corruption Act (PCA) and Penal Code on Dec 11.
ST Engineering, whose businesses include defence and aircraft maintenance, said the charges against See are not expected to have any material impact on its consolidated net tangible assets or consolidated earnings per share for the financial year ending Dec 31, 2014. It also said that the group is committed to maintaining high standards of corporate governance and recognises that fraud is detrimental to its reputation.
"ST Engineering does not condone fraud, including corruption and bribery, and is fully committed to proactively mitigating the risk of its occurrence," it added.