When even corrupt India fears to get involved with Singapore Technologies

[Leepotism]

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[TD="width: 784, colspan: 2"]ST Kinetics gets prohibition order from India's OFB
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SINGAPORE : The land systems arm of Singapore Technologies Engineering (ST Engineering), Singapore Technologies Kinetics (ST Kinetics) said it has received an order from India's Ordnance Factory Board (OFB) dated 5 March 2012 on the "cancellation of all agreements".

This is specifically on a Non-Disclosure agreement with ST Kinetics signed on 11 August 2008 with the OFB.

The order also prohibits ST Kinetics from entering into any contract with the OFB for 10 years.

An industrial set-up under India's Ministry of Defence, the OFB is engaged in producing firearms for civilian and the military.

ST Kinetics said it has never won any defence contracts in India, which is not a market for its defence export sales.

Its defence business has therefore not been impacted by this.

ST Kinetics is seeking legal advice on the order by the OFB and intends to vigorously take appropriate actions to clear its name and defend its reputation.

The move to clear its name follows reports in India since 2009 linking it to a corruption probe.

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[johnny333]

Is this related to the Bofors scandal in 1984

 

[Confuseous]

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[TD="width: 784, colspan: 2"]ST Kinetics gets prohibition order from India's OFB
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SINGAPORE : The land systems arm of Singapore Technologies Engineering (ST Engineering), Singapore Technologies Kinetics (ST Kinetics) said it has received an order from India's Ordnance Factory Board (OFB) dated 5 March 2012 on the "cancellation of all agreements".

This is specifically on a Non-Disclosure agreement with ST Kinetics signed on 11 August 2008 with the OFB.

The order also prohibits ST Kinetics from entering into any contract with the OFB for 10 years.

An industrial set-up under India's Ministry of Defence, the OFB is engaged in producing firearms for civilian and the military.

ST Kinetics said it has never won any defence contracts in India, which is not a market for its defence export sales.

Its defence business has therefore not been impacted by this.

ST Kinetics is seeking legal advice on the order by the OFB and intends to vigorously take appropriate actions to clear its name and defend its reputation.

The move to clear its name follows reports in India since 2009 linking it to a corruption probe.

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These Indians' case has absolutely no merit and I am sure ST will defend its integrity.