Singapore’s industrial conglomerate Keppel saw its full-year profit sharply cut due to the cost of the bribery settlement reached by its rig building subsidiary late in 2017.
To remind, the offshore rig building firm Keppel Offshore & Marine (KOM) in December 2017 said it would pay fines totaling $422 million (USD) to three jurisdictions to resolve charges arising out of a decade-long scheme to pay millions of dollars in bribes to officials in Brazil.
Presenting its full year and 4Q result on Thursday, Keppel reported a net profit of S$217 million for the 12 months ended 31 December 2017.
Brazil Energy Insight 
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