Thursday 28 Mar 2024
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SINGAPORE (Dec 2): Singapore Technologies Engineering on Friday announced that See Leong Teck, the former president of its subsidiary Singapore Technologies Marine, has been sentenced to a 10 months’ imprisonment and fined S$100,000 for corruption.

See had pleaded guilty on Oct 7, 2016, to one charge under section 477A of the Penal Code, one charge under section 6(b) read with section 31 of the Prevention of Corruption Act, and one charge under section 157(1) of the Companies Act.

In a press statement on Friday, ST Engineering said it 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,” it said.

The company added that since 2011, ST Marine has been extending its fullest cooperation to the Corrupt Practices Investigation Bureau in its investigation of certain transactions involving former and current employees.

Shares of ST Engineering closed 1 cent higher at S$3.35 on Friday.

 

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