WORLD’S BIGGEST BRIBE SCANDAL
Unaoil: Dark secrets of Asian powers
Asian companies such as Hyundai, Samsung, Sinopec and Petronas are household names. But they have dark secrets. In the latest in Fairfax Media and The Huffington Post’s global bribery expose, these firms and more are implicated for paying kickbacks, money laundering and corruption.
As Asian companies expand their global power and influence, the Monaco-based bribe factory Unaoil has been quick to sign them up to its corrupt business model.
A trove of leaked emails from inside Unaoil show it working closely with Malaysia’s national oil company Petronas, as well as South Korean titans Hyundai and Samsung, and even the Chinese government giant Sinopec. The oil industry’s biggest ever scandal has also exposed Asian conglomerates Yokogawa of Japan, South Korea’s ISU, Singapore’s Keppel and Malaysian firm Ranhill.
The emails show some Asian executives are enthusiastic participants in graft, underscoring the pervasive culture of corruption across the region. It’s an alarming proposition as Asian companies develop into some of the most powerful and influential players in global business.
The massive leak of files from Unaoil this week has already sparked investigations by the US Department of Justice, the FBI, Britain’s National Crime Agency and other authorities.
Today, we reveal how Unaoil’s corrupt dealings with its multinational clients has also infected the fast-growing African oil industry.
Malaysian millions: Petronas and Ranhill
Unaoil bribed Petronas executives to rig the contract. Unaoil’s client was British oil services firm Petrofac.
Oil for many countries is by far the biggest game in town. Many struggling oil-producing nations hire international companies to manage their fields, hoping this will deliver the best value for their people.
The Iraqi government was hoping for such a result when it appointed the Malaysian government-owned oil company Petronas to help manage huge oil fields in Iraq’s south in 2010.
Then Unaoil stepped in. Unaoil had a client that wanted to secure a large contract Petronas was overseeing. So Unaoil bribed Petronas executives to rig the contract. Unaoil’s client was British oil services firm Petrofac.
Leaked emails reveal that Unaoil agreed to pay millions of dollars to a Malaysian middle man who claimed he could influence a top Petronas’ executive and other Malaysian officials in 2010. “I’ll make [an] arrangement for us to see Mr [Petronas executive] when I’m in Dubai,” middle man Affandi Yusuf wrote to Unaoil.
“As you are aware the situation is very sensitive at the moment. I’ll have to meet Mr [Petronas executive] personally to make him comfortable to meet up with your team.”
In a later email from Affandi, the middleman claims that, in return for the bribes, his corrupt Petronas contacts had “fed us” inside information from a tender committee. This ensured that Unaoil’s client Petrofac qualified for a large contract.
“They have lived up to their obligation to get PF [Petrofac] qualified technically. According to them, PF would have been initially technically disqualified,” Affandi wrote in an email in which he demanded money.
Petrofac responded that it did not condone bribery in any of its operations.
Note : The above is an extract from tn article in the Age. Please clich here for the full article :