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Singapore Fines Hydronav Services for Breaching Export Control Regulations

Recent Regulations & NewsSingapore Fines Hydronav Services for Breaching Export Control Regulations

Singapore has imposed a fine of $1,133,412.25 on Hydronav Services (Singapore) Pte Ltd for breaching Singapore’s export control regulations, particularly section 5 of the Strategic Goods (Control) Act 2002, as stated in a press release. Hydronav acquired a multibeam echosounder system from a Norwegian company but falsely informed Norwegian authorities that the goods were destined for Indonesia. Subsequently, Hydronav exported the system to Myanmar without obtaining the necessary permit. Additionally, two employees were individually fined $35,000 and $45,000 for their roles in overseeing this unauthorized export.

Read full press release here.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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