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Keppel says some transactions by former Brazil agent 'suspicious'

Keppel says some transactions by former Brazil agent 'suspicious'
Keppel Corp has admitted that certain transactions made its former agent in Brazil Zwi Skorniki between Petrobras and Sete Brasil may be “suspicious”.

Keppel has repeatedly denied allegations that Skorniki had paid bribes to secure contracts from Petrobras and Sete Brasil. The allegations are part of Brazil’s Operation Carwash corruption investigations, which saw the arrest of Skorniki in February this year.

Keppel said that following internal investigations it “recognises” some of the transactions associated with Skorniki might be “suspicious”.

“Keppel has notified the authorities in the relevant jurisdictions of its intention to cooperate and work towards the resolution of the underlying issues arising from or in connection with the transactions,” Keppel said in a statement to the Singapore Exchange.

The Singapore-listed company said the issue remained under review and it would make further announcements where appropriate.

“Keppel reiterates its zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates,” it added.