PTT starts investigating Rolls-Royce Bribery, targets to report to board of committee next week

Energy Press Releases Monday January 23, 2017 11:41
Bangkok--23 Jan--PTT

Tevin Vongvanich, President and Chief Executive Officer, PTT Public Company Limited, revealed that an investigation committee has been set up. It is initially consisted of senior management who has not involved in project procurement associated with Rolls-Royce's engines, in order to have to process continues transparently under corporate governance guidelines.

The committee is now accelerating in gathering information about operation, process and persons responsible for the projects. In the meantime, PTT will invite representatives from Siemens, who has acquired Rolls-Royce's business in late 2014, to ask for more information relating to the documents released by the U.S. Department of Justice.

"PTT will verify the procurement process seriously and carefully. We will report the initial investigation summary to the board of committee next week. If violation is found, PTT will proceed on related regulations and legal action," Tevin concluded

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