Singapore firm fined for bribery

Wed, 24 Dec 1997 | Source: AFP

SINGAPORE (AFP): Singapore conglomerate Keppel Corp has admitted giving bribes totaling S$8.53 million (US$5.33 million) to a manager in a British subsidiary of U.S. oil giant Exxon Corp., a report said yesterday.

The money -- given to Cornelius van der Horst, 56, repair and technical manager of Southampton-based Petroleum Shipping -- was meant to reward him for helping Keppel obtain contracts to maintain and repair 17 Exxon tankers, The Straits Times reported.

The daily said that Keppel pleaded guilty in a Singapore district court on Monday to giving the bribes between January 1992 and May 1995.

District Judge Adrian Soon fined Keppel S$300,000 -- a maximum of S$100,000 on each of three corruption charges slapped on the local corporation.

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