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    Otto Marine employee charged in relation to transactions at previous company

    Company News // December 19, 2014

    Otto Marine Limited has confirmed that on 11 December 2014, one of its employees, Mok Kim Whang was charged in the State Courts of Singapore under the provisions of the Prevention of Corruption Act in relation to certain transactions that he was involved with while working for his former employer.

    Otto Marine said the group has not been contacted by the Corrupt Practices Investigation Bureau to assist with any investigation.

    Mok is a senior officer in the group and runs its shipyard and fabrication operations.

    Pending the outcome of the court proceedings, Mok remains employed by the company.

    The company said it will consult its lawyers and consider its next steps with regards to the employment status of Mok after the verdict at the end of the trial.

    As the group is not involved with those transactions, the charge against Mok will not have any impact on the consolidated net tangible assets or consolidated earnings per share of the group for the financial year ending 31 December 2014.

     

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