Update: More Corruption Charges for ST Marine Management

Published Dec 30, 2014 2:16 AM by The Maritime Executive

A Singapore court filed bribery charges on Tuesday against a former executive at Singapore Technologies Engineering Ltd, one of Asia's largest defence and engineering groups.

See Leong Teck, a former president of the company's marine unit ST Marine, is the fourth former employee of the company to be charged with corruption this month. He was president of the from Dec. 1997 to Feb. 2008, ST Engineering said in a statement.

See was allegedly involved in bribing agents for Hyundai Engineering and Construction Ltd and Myanma Five Star Line between 2004 and 2007 to win ship repair contracts, according to the charge sheet seen by Reuters.

Asked about the charges, a spokesman for Hyundai Engineering said: "There is no connection with the company and the incidents."

Myanma Five Star Line, a shipping company based in Yangon, did not respond to Reuters request for comments immediately.

See was president of unit ST Marine from Dec. 1997 to Feb. 2008, the company said in a statement.

Shares in ST Engineering, in which Singapore's state investor Temasek Holdings is the largest shareholder, inched down 0.3 percent.

The Corrupt Practices Investigation Bureau started investigating certain transactions involving former and current employees in September 2011.

Another three former employees of ST Marine were charged on December 11. They are Chang Cheow Teck, Mok Kim Whang and Ong Tek Liam.

Chang faces three charges. He was the president from March 2008 to April 2010, and was the President of Singapore Technologies Aerospace from May 2010 to June 2014.

Mok faces one charge. He was senior vice president (Tuas Yard) from 1 June 2000 to 31 July 2004.

Ong was group financial controller and senior vice president (finance) from April 2007 to December 2012. She faces a total of 118 charges.

The charges against See 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 financial year ending 31 December 2014, the company said in a statement.