Singapore Minister Warns Agricultural Firms Over Haze Links
Shares of several Singapore-listed agricultural firms fell after Senior Minister K Shanmugam warned they would not escape responsibility for their potential role in the toxic haze affecting the region. The minister revealed that seven companies had been questioned by the Singapore Exchange, with some fire or smoke sources linked to First Resources and Bumitama Agri. He emphasized the government's determination to use legal and regulatory tools against firms contributing to environmental harm. The haze has severely impacted air quality in Singapore and Malaysia for weeks, prompting school closures and public health concerns. Shanmugam dismissed worries about diplomatic tensions with Indonesia over the issue, stating that protecting citizens was a priority. He also indicated that new laws could be introduced if necessary to address corporate non-compliance. The government is scrutinizing whether these companies still qualify for grants or incentives, signaling potential financial and reputational consequences.
Topics: agricultural companies fires government action haze Singapore Exchange