EMEA News
Grindrod Boss Calls Events at Cockett's Dubai Office a "Scam"
Events at Cockett Marine Oil's Dubai office, which contributed to its co-parent Grindrod making a first half-year loss, have been called a "scam" by Grindrod's chief executive, Andrew Waller.
In its earnings release, the company said that what had transpired at the Dubai office had led to the dismissal of several employees and the start of legal proceedings.
Waller, who said that it also involved individuals outside the group, wouldn't be drawn on giving any more detail, according to South African news provider the Independent Online.
Speaking after Grindrod published its first half-year results, he told the news provider that the Dubai authorities and the group's insurers had requested he not divulge the details.
Grindrod has put its marine fuel operations and agricultural investments up for sale. These discontinued operations were reported to have made a loss versus a profit in the first half of last year.
The loss included a hit from its Dubai marine fuels business.
Ship & Bunker has asked Cockett Marine Oil Dubai for comment.
