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Accounting and Corporate Regulatory Authority
Press release

Record fine for Director with multiple Companies Act breaches

Audience

Businesses

Corporate service providers (CSPs)

News Topic

Enforcement and penalties

19 July 2018

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

On 17 July 2018, a company director was convicted and fined a record $57,000 for 38 charges ($1,500 per charge) in the State Courts. Lawrence Fong Kok Liong pleaded guilty to the charges for offences under section 175 and 197 of the Companies Act (CA) for failing to hold the annual general meeting (AGM), and failing to file annual returns (AR) in relation to 19 companies. Fong had been convicted in 2014 for similar offences and compounded 60 similar offences. A further 78 charges were taken into consideration for the purpose of sentencing.

Download the press release (PDF, 82KB) for more information.

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