SINGAPORE, Oct 19 — Companies linked to ongoing wildfires in Indonesia that have blanketed several South-east Asian countries in hazardous haze have been urged to cooperate with the Singapore Government. Those that refuse could face pressure on their financing, investor standing and bottom line, Senior Minister K Shanmugam warned.

“We will use every legal and regulatory lever at our disposal to exert pressure where it matters,” Shanmugam said today, as he spoke to the media during a visit to Woodlands Checkpoint.

Shanmugam, who is also coordinating minister for national security and minister for home affairs, noted that the Singapore Exchange (SGX) has asked questions of seven agri-related companies listed in Singapore.

The seven companies are: Golden-Agri Resources, Bumitama Agri, First Resources, Wilmar, Kencana Agri, Indofood Agri, and TSH Resources.

When asked what could happen if these companies refused to cooperate, Shanmugam cautioned that they should not underestimate the Singapore Government’s determination to act.

“If companies refuse to cooperate, regardless of whether they have a presence in Singapore, or do not have a presence in Singapore, we will use every legal and regulatory lever at our disposal to exert pressure where it matters,” the senior minister said.

He added that this includes their bottom-line, access to financing and standing with investors. 

If necessary, the Government could also amend existing legislation or introduce new laws on an urgent basis to ensure greater cooperation, Shanmugam said.

Companies cannot ‘greenwash’ behaviour

The senior minister also emphasised that companies cannot simply claim to be environmentally responsible, while refusing to subject themselves to scrutiny.

“Their claims must be backed by evidence, not just words. They cannot greenwash their behaviour,” he said.

Shanmugam also warned such companies that they cannot simply wait for the haze to clear, and return to what he described as “business as usual”.

“We will pursue this matter for as long as it takes,” he said.

Meanwhile, the Ministry of Sustainability and the Environment, along with other agencies, have taken several steps to deal with the ground situation, including distribution of N95 haze masks to vulnerable Singaporeans.

At the same time, the authorities are examining what further action can be taken against companies that may be linked to the fires.

The Homefront Crisis Ministerial Committee, chaired by Shanmugam, is also looking into the issue.

“Dealing with these companies is one of those issues,” Shanmugam said.

Shanmugam said the haze was not simply an act of nature, but a problem driven by companies pursuing profits, adding that those responsible must be held accountable.

While speaking to the media, the senior minister also referred to comments made by the Indonesian Head of Government Communications Agency Syahganda Nainggolan, who told media there on October 10 that Indonesia also sends oxygen to Malaysia and Singapore.

Shanmugam said it was “not right” to make such remarks when the region was suffering from haze caused by companies breaching regulations in Indonesia.

“Frankly, it is not right to say this when this entire region is suffering as a result of the bad behaviour of companies breaching regulations in Indonesia,” Shanmugam said, pointing out that Indonesians are suffering the most. — AsiaOne