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CSR Malaysia

Wednesday
Feb 22nd
Home arrow News arrow Asia arrow Singapore Regulators Probe CSR Companies
Singapore Regulators Probe CSR Companies Print E-mail
Saturday, 08 May 2010

Regulatory authorities in Singapore are to investigate three CSR Consulting companies for alleged breaches of Singapore company law.

The companies, CSR Asia Pte Ltd, Responsible Research Pte Ltd and PAIA Consulting Pte Ltd are leading players in the CSR industry in Asia. Three directors of CSR Asia, Erin Lyon, Richard Welford and Stephen Frost are also directors of Responsible Research whose board also includes Melissa Brown former Managing Director of IDFC, Lucy Carmody a consultant to the International Finance Corporation (IFC) and Melissa Ong a Research Fellow at the Lee Kuan Yew School of Public Policy.

The Commercial Affairs Department (CAD) of the Singapore Accounting and Corporate Regulatory Authority (ACRA) will examine the conduct of Graham Owens, who is currently a director of Paia Consulting Pte Ltd. Owens was formerly a director of Responsible Research and had previously worked for CSR Asia as a Senior Project Manager in their Singapore office.

It is understood that ACRA will investigate claims that Owens failed to comply with his director’s duties under section 157 of the Singapore Companies Act and did not perform his fiduciary obligations to act in the best interests of another company, of which he was also formerly a director. Breaches of section 157 are an offence under Singapore law and are punishable by a fine or a custodial sentence. Owens, who has been questioned by the Singapore Police Force (SPF), also faces a possible civil action for damages.

The investigations are the latest in a series of controversies that have dogged CSR Asia’s Singapore operations in recent months. In January 2009, Lyon and Welford issued a letter of apology on the CSR Asia website following claims that they had attempted to ruin a CSR conference run by a competitor by sending defamatory emails to speakers and delegates. In September 2009, Lyons issued a public denial following revelations that letters had been sent under CSR Asia’s livery aimed at ruining another CSR conference in Singapore.

In a separate case in October 2009, Lyon was also questioned by SPF in relation to reports of the theft of confidential information from a competitor. SPF referred the matter to the Singapore Attorney-General who decided that it could be dealt with in the Civil Courts. A suit was filed in March 2010 in the Singapore Magistrate’s Court and is currently under consideration. Lyon has faced no charges so far.
 

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