A Singapore-registered shipping company has been found guilty of transferring tens of thousands of dollars used to transport fighter jets and surface-to-air missile systems from Cuba to North Korea in 2013.

The haul, hidden under heaps of sugar and discovered by Panamanian authorities, was the biggest load of arms and related materials ever to be intercepted on its way to or from the isolated North.

In announcing the verdict on Monday, Singapore District Judge Jasvender Kaur said the firm, Chinpo Shipping Company, could have contributed to the nuclear-related programs or activities of North Korea.

The company was also found guilty of running a remittance business without a valid license for more than four years.