• A A A
No Room For Under The Table Deals

PRESS RELEASE BY CPIB
No Room For Under The Table Deals


          Accepting monies or gifts that were given with the intention to gain an unfair business advantage is unethical and can constitute an act of corruption. 

2        On 26 September 2017, Neo Kian Siong, a 61-year old former Senior Procurement Officer in Keppel Shipyard Limited, will be brought to Court for a total of 395 charges for the following offences:

i. 78 counts of corruptly accepting a sum amounting to $293,000 from several company directors and a sales engineer, as a reward to advance their companies’ business interests with Keppel Shipyard Limited, an offence punishable under Section 6(a) of the Prevention of Corruption Act, Chapter 241.

ii. 270 counts of converting approximately $933,600 (which wholly represents benefits from criminal proceeds), to numerous forms of assets such as vehicle deposits and hire purchases, housing loan, insurance premiums, shares, unit trusts, foreign currencies and time deposits. This constituted an offence under Section 47(1)(b) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Chapter 65A, and punishable under Section 47(6)(a) of the same Act.

iii. 47 counts of transferring approximately $119,800 (which wholly represents benefits from criminal proceeds) to various bank accounts, an offence under Section 47(1)(b)of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Chapter 65A, and punishable under Section 47(6)(a) of the same Act.

3        Singapore adopts a zero tolerance approach towards corruption. The Corrupt Practices Investigation Bureau takes a serious view of any corrupt practices and will not hesitate to take action against any party involved in such acts.

 

Chiam Shu Yan
Senior Executive, Corporate Relations
Corrupt Practices Investigation Bureau
DID: 6490 5944 Mobile: 9818 1569

Shawn Chew
Senior Manager, Corporate Relations
Corrupt Practices Investigation Bureau
DID: 6490 5945 Mobile: 9818 1569

Last updated: 27 Sep 2017