CATEGORY: NEWS AND ANNOUNCEMENTS, PRESS RELEASES
Singapore, 31 October 2025 – Three individuals were convicted and sentenced today in the State Courts for various offences under the Companies Act 1967.
Charges under the Companies Act 1967
2 The three individuals – Wang Fang, Yuan Shuhua and Wu Lijuan – were registered qualified individuals (“RQIs”) when the offences were committed. An RQI is a person who is authorised to act on behalf of a registered Corporate Service Provider (“CSP”) in transactions with ACRA. The three individuals faced 64 charges under the Companies Act 1967 in relation to false declarations and failure to obtain proper consent documentation for director appointments.
a) Wang Fang was fined $66,000 for failing to exercise due diligence as a director of CS Corporate & Advisory Pte Ltd and CS Business Consultant Pte Ltd, which are CSPs1. She had authorised her staff to appoint Richard Poh Kim Leng as a director of 58 companies without ensuring that he had signed the proper consent forms as required. Wang Fang was also found guilty of authorising Wu Lijuan to perform false filings pertaining to registrable controller (i.e. beneficial owner) information of Yilong Corporate Pte Ltd and RH Corporate Pte Ltd, and was further fined $17,000.
b) Yuan Shuhua was found guilty of making false declarations on the annual returns of RH Corporate Pte Ltd for FYE 31 Dec 2020 and FYE 31 Dec 2021 that the said company was exempted from the requirement to maintain a Register of Registrable Controllers, when it was not eligible for such exemption. Yuan was fined a total of $15,000.
c) Wu Lijuan was found guilty of falsely declaring that she was the registrable controller of Yilong Corporate Pte Ltd and fined $7,500.
3 Pursuant to the conviction of the false declaration charges under the Companies Act 1967, the three individuals will be disqualified from acting as directors of any company for five years from the date of their convictions under section 154(1) of the Companies Act 1967. They will also not be allowed to take part in the management of any local or foreign company for five years.
4 CSPs play an important role in maintaining the integrity of Singapore’s business landscape. Under the Companies Act 1967, individuals found guilty of:
a) An offence for failing to obtain proper consent documentation for director appointments under section 157(1) may be liable to a maximum fine of $5,000 or a maximum term of imprisonment of up to 12 months;
b) Making false declarations under section 401(2A) may be liable to a maximum fine of $50,000 or a maximum term of imprisonment of up to 2 years, or both.
5 ACRA has strengthened its enforcement powers under the Corporate Service Providers Act 2024, with penalties of up to $100,000 for non-compliance in anti-money laundering, countering the financing of terrorism, and countering proliferation financing. ACRA can also hold senior management personally liable for corporate offences. ACRA will not hesitate to take firm enforcement action against non-compliant CSPs, including suspending or cancelling their registrations and pursuing both corporate and individual accountability where appropriate.
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[1] A CSP is a person who carries on a business of providing any corporate service, which may include the forming of business entities and the carrying out of transactions with ACRA on behalf of another person.