THE Office of the Comptroller General of Brazil has published a notice in the Official Gazette stating that it has initiated an administrative enforcement procedure against five Keppel subsidiaries in relation to"alleged irregularities under the Brazilian Anti-Corruption Statute".
CGU has appointed two officials to form a panel to preside over the proceedings, Keppel Corp said in a bourse filing on Thursday. The subsidiaries are: Keppel Offshore & Marine , Keppel Fels, Keppel Fels Brasil, BrasFELS, and Prismatic Services. Keppel Corp said none of the subsidiaries have been served with the notice or any summons. As the notice did not provide any factual particulars, Keppel said it is"unable to assess the matter or its impact".
Keppel has been advised that following the issuance of the notice, the CGU will carry out further internal investigations. The panel will then decide if any summons is to be served on the subsidiaries, who will then have 30 days to file a defence.
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Source: The Straits Times - 🏆 8. / 63 Read more »