The Malaysia International Shipping Corporation (MISC) has confirmed participation in an investigation by the Malaysian Anti-Corruption Commission (MACC) for alleged bribery amounting to $27.8 million.
“MISC wishes to confirm that the company has been giving its fullest support and cooperation to MACC,” it said on Monday.
“The group has a zero tolerance policy against any form of bribery or corruption by our employees, subsidiaries or any persons or companies acting for MISC or on its behalf.”
According to MACC, the investigations include alleged bribes arranged between MISC employees and contractors from the shipping industry.
“The officers had supposedly filed claims to receive payments for ship maintenance services, but there was no upkeep being done from 2010 to 2013,” said a MACC statement, as quoted by the Malay Mail.
Allegations include maintenance work on a MISC vessel during 2012, where $15.8 million was paid to a vendor for repair work on a vessel’s bunker fuel tank when estimates valued the cost to be $7.9 million.
An additional $12 million is unaccounted over other ship maintenance contracts.
Several documents were seized during a 28 February raid on MISC’s offices in Kuala Lumpur and Johor; investigations continue.
Published: 7 March, 2018
The Singapore court was planning to enforce a seizure and sale of the asset to pay a USD 705,594.45 debt owned by GP Global APAC to Equatorial Marine Fuel Management Services via a judgement.
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Fast Energy Sdn Bhd is currently exploring collaboration with a major Malaysian bunker supply firm operating at Port Klang; the operation will be supported by CCK Petroleum upon finalisation.
Veritas Petroleum Services records numerous contaminants such as plastic, fibres, black gum, paraffins, fatty acids, and other component found in the off-spec RMK 700 marine fuel.
Course includes topics on valid and binding transactions; quality or quantity disputes; shipping issues; contract termination; claims; insolvency and others. Registration closes 25 February 2021.
All bunker vessels that have received the necessary clearance for out of port bunkering operations may do so at the stated Tompok Utara coordinates only or risk penalty, according to the MMEA.