Punishing corporate corruption

Are penalties for companies that bribe or embezzle too low? No. But it's important that the individuals involved do not go unpunished, especially in cases where the corruption was longstanding

Walter Woon For The Straits Times
In a 1997 case, Keppel Corp faced 17 charges of bribery after $8.53 million was paid to the repair and technical manager of a British subsidiary of Exxon Corporation over more than three years. In return, Keppel got contracts to maintain and repair 1
In a 1997 case, Keppel Corp faced 17 charges of bribery after $8.53 million was paid to the repair and technical manager of a British subsidiary of Exxon Corporation over more than three years. In return, Keppel got contracts to maintain and repair 17 of Exxon's tankers. The prosecution proceeded with only three charges. Keppel pleaded guilty and was fined a total of $300,000.PHOTO: KEPPEL CORPORATION
  • Published
    Apr 30, 2018, 5:00 am SGT
New: Gift this subscriber-only story to your friends and family

The headline read "Keppel fined $300,000 for giving $8.53m in bribes for contracts".

Deja vu: This has nothing to do with recent events. The article appeared in The Straits Times of Dec 23, 1997.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*
Subscribe now

*Terms and conditions apply.

Join ST's Telegram channel here and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on April 30, 2018, with the headline 'Punishing corporate corruption'. Subscribe
Topics: