Company director hit with record SGD$113,400 fine

A company director was hit with a record SGD$113,400 fine for multiple breaches of the Companies Act. They include failing to hold annual general meetings (AGMs) and failing to file annual returns (ARs). According to the Accounting and Corporate Regulatory Authority (ACRA), Tan Hang Song was fined SGD$113,400. The fine was nearly double the previous [...]

2019-02-26T01:58:05+08:00February 26th, 2019|Latest News|

Key Legislative Amendments Taking Effect for companies with FYEs ending on and after 31 August 2018

Key Legislative Amendments Taking Effect for companies with FYEs ending on and after 31 August 2018 In March 2017, Parliament passed the Companies (Amendment) Bill 2017. Some of these amendments which aim to reduce the regulatory burden for companies will be taking effect from 31 August 2018. We are writing to you as the new [...]

2018-08-07T09:34:56+08:00August 7th, 2018|Latest News|

Implementation of Section 121 of Companies (Amendment) Act 2014

Section 121 of the Companies (Amendment) Act 2014 which introduces new sections 202A and 202B of the Companies Act (the "Act") took effect on 20 April 2018. Concurrently, the Companies (Revision of Defective Financial Statements, or Consolidated Financial Statements or Balance-Sheet) Regulations 2018 (the “Regulations”) has been issued to operationalise sections 202A and 202B. The [...]

2018-04-27T18:37:00+08:00April 27th, 2018|Latest News|

New Grant for Artificial Intelligence and Data Analytics

The Monetary Authority of Singapore (MAS) launched a new $27 million Artificial Intelligence and Data Analytics (AIDA) Grant under the Financial Sector Technology and Innovation (FSTI) Scheme. The objective of this grant is to promote the use of Artificial Intelligence (AI) and data analytics in financial institutions. This AIDA Grant will focus on two tracks, [...]

2017-12-08T02:38:49+08:00December 7th, 2017|Latest News|