Keppel O&M will pay fines totalling US$422 million ($570 million) to the three jurisdictions, representing a 25% discount off the bottom of the applicable fine range under US sentencing guidelines, the maximum cooperation and remediation credit allowed.
SINGAPORE (Dec 26): OCBC is maintaining its longer-term "buy" rating on Keppel Corporation with upside potential of 11.1% although there is likely to be a negative knee-jerk reaction on the share price.
This comes after Keppel announced on Saturday that its Keppel Offshore & Marine unit has reached a global resolution with the criminal authorities in the US, Brazil and Singapore, bringing closure to the investigations into corrupt payments by a former agent, Zwi Skornicki, in Brazil.
