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 record of SGD$57,000. Tan faced 54 charges and was disqualified in November 2018 from acting as a director for five years.

Source: The Straits Times (23rd February 2019) Company director hit with record $113,400 fine