ST Engineering

[pianist]

what a disgrace..i also wonder what happened to all its internal and external auditors, all kooning?

SINGAPORE - Three former staff of Singapore Technologies Marine (ST Marine), who held high-ranking positions, were charged in court on Thursday under the Prevention of Corruption Act (PCA) and the Penal Code.

Former president of ST Marine Chang Cheow Teck was charged with three offences of corruption involving a total sum of $273,778, reported The Straits Times. He held the position with ST Marine from March 2008 to April 2010. From May 2010 to June 2014, he was the President of Singapore Technologies Aerospace Ltd.

The 54-year-old has been accused of conspiring with two other colleagues Teh Yew Shyan and Ong Teck Liam between 2004 and 2010 to receive bribes in return for favours such as ship repair contracts, said the report.




Ong, 58, the former group financial controller and senior vice president (Finance) of ST Marine from April 2007 to Dec 2012, has been charged with a total of 118 charges under section 477A of the Penal Code. She allegedly made false petty cash claims, amounting to over $500,000, in entertainment expenses, when there were none.

Separately, Mok Kim Whang, 64, the former senior vice president (Tuas Yard) of ST Marine from June 2000 to July 2004, was accused of conspiring with others to corruptly pay $43,721 to a company in May 2004.

ST Engineering, the parent company, issued a statement today saying that it has been in full cooperation with the Corruption Practices Investigation Bureau since investigations started 2011.

The company's spokesman said: "ST Engineering 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."

The company added that the charges against the 3 former employees of ST Marine 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 Dec 31, 2014.
- See more at: http://news.asiaone.com/news/singapore/f...vW9DE.dpuf

[pianist]

Teh Yew Shyan dead? is it a coincidence
8. Graft charges at ST Marine

Three former high-ranking executives of shipbuilder Singapore Technologies (ST) Marine were charged this month with corruption and falsification of accounts.

Former president Chang Cheow Teck faces three charges of corruption for conspiring with two others to give bribes totalling $273,778 to customers in return for favours, such as ship repair contracts.

One of his alleged co-conspirators, Teh Yew Shyan, has died. But the other, Ong Teck Liam, 58, the firm's former group financial controller and senior vice-president (finance), was charged.

She faces 118 counts of making false petty cash claims amounting to over $520,000 in entertainment expenses, when there should have been none.

Mok Kim Whang, ST Marine's former senior vice-president (Tuas Yard) was the third person to be charged. The 64-year-old is accused of conspiring with Mr See Leong Teck and Mr Patrick Lee Swee Ching to corruptly pay $43,721 to a company in May 2004. Mr See is ST Marine's former president while Mr Lee was the chief financial officer of group subsidiary Vision Technologies Systems. Investigations are ongoing.

source: asiaone 28dec2014

[greentea]

http://businesstimes.com.sg/companies-ma...with-graft

Second ex-president of ST Marine charged with graft
By Claire Huang huangjy@sph.com.sg @ClaireHuangBT
30 Dec 11:32 AM

A SECOND ex-president of Singapore Technologies Marine Ltd (ST Marine) has been charged in court, in a corruption scandal that has implicated six of its former high level executives.

See Leong Teck, who was president of ST Marine from December 1997 and retired in February 2008, faces seven counts under the Prevention of Corruption Act....

[natnavi]

I do not understand the law. Why are they being charged when they are the one giving the bribe. It is not ok if they are bribing government officials.
However in this case, they are bribing companies to win businesses for their own company. I see no fault in that. It happens frequently in the business world.

[touzi]

I do not understand the law. Why are they being charged when they are the one giving the bribe. It is not ok if they are bribing government officials.
However in this case, they are bribing companies to win businesses for their own company. I see no fault in that. It happens frequently in the business world.

They are charged with bribing individuals not companies to win the contract. The benefit went to the pocket of the individuals. If it has gone to the company awarding the contract, it would have been a discount which is perfectly legal.

[corydorus]

I do not understand the law. Why are they being charged when they are the one giving the bribe. It is not ok if they are bribing government officials.
However in this case, they are bribing companies to win businesses for their own company. I see no fault in that. It happens frequently in the business world.

Well do you like other businesses to bribe our gov officials ? A bribe is a bribe. They can do this today for their business. Tomorrow they can bribe our own officials and ruin our country. Further they are GLC who one day may hold political office or in close association with our elected bodies.

[hurricane]

I do not understand the law. Why are they being charged when they are the one giving the bribe. It is not ok if they are bribing government officials.
However in this case, they are bribing companies to win businesses for their own company. I see no fault in that. It happens frequently in the business world.

I agree. The recipients of the bribes are greedy and dishonest and in all cases, must have demanded the bribes before agreeing to show favour to the givers who don't have much of a choice in this competitive world. All they want is to win a contract or two for their companies. On the other hand, the greedy employees on the take are secretly enriching themselves, not helping their companies in any way. They are the ones who should be punished for being corrupt.

[Temperament]

A bribe is a bribe.
Nobody can deny that.
Black is black.
White is white.
A lie is a lie.
Lie is black.
Lie is white.
Lie is white and black at the same time?
Do you like white or black lie?
Can a lie be also gray?
i don't mind white lie.
Do you?

[Muck]

I do not understand the law. Why are they being charged when they are the one giving the bribe. It is not ok if they are bribing government officials.
However in this case, they are bribing companies to win businesses for their own company. I see no fault in that. It happens frequently in the business world.

I agree. The recipients of the bribes are greedy and dishonest and in all cases, must have demanded the bribes before agreeing to show favour to the givers who don't have much of a choice in this competitive world. All they want is to win a contract or two for their companies. On the other hand, the greedy employees on the take are secretly enriching themselves, not helping their companies in any way. They are the ones who should be punished for being corrupt.

I respect both your views but I disagree. A bribe is an inducement for someone to enrich themselves by doing something under table or outside of a transparent process. That to me is wrong.

[LionFlyer]

I hate to say this, but it happens and it happens in a lot of the developing countries. More than often, I've heard that Singaporean companies lose out because of our inability to "play the game" (most recently, in Myanmar by our "big red").