Keppel’s senior executives involved in corrupt payments must return millions in ill-gotten gains
Remuneration of senior management is pegged to company performance. Keppel’s senior executives must have collectively been paid additional millions over 13 years as a result of corrupt payments for their “stellar performance”. According to this Reuters report, the Temasek company had paid “US$55 million in bribes”...
Interest cost and stagnant property prices will wipe out CPF used for HDB housing consumption
The PAP government has often reminded CPF members on the need to be adequately prepared for retirement. But on the other hand, CPF members are encouraged to consume our CPF for housing. Common sense tells us that the only roof over one’s head isn’t an investment; only a second or multiple properties owned by the rich...
A Shocking Window Into The Institutional Corruption That Pervades Singapore Inc
Quietly over Christmas the US Justice Department announced that it had reached a deferred prosecution agreement with Keppel Offshore and Marine. Under the agreement Keppel O & M, a unit of Keppel Corp, will pay $422 million to resolve charges that it paid $55 million in bribes to Brazilian politicians to win business from...
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