Latest news with #Goh
Borneo Post
a day ago
- Business
- Borneo Post
SME Association of Sarawak celebrates culture, enterprise through mural competition
Ong (third left) presents a letter of appreciation to Goh in recognition of his participation in the competition. KUCHING (June 19): The SME Association of Sarawak marked a proud moment for local arts and culture through its participation in the Tropics City Mural Pillars Competition, celebrating the role of visual storytelling in entrepreneurship and heritage preservation. At the prize-giving ceremony held at Tropics City, association president Jordan Ong presented the Gold Prize Award to well-known local artist Gerald Goh, whose entry stood out as the competition's only 3D interactive mural. 'Goh received RM3,000 for his winning entry, which impressed the judges with its creative flair, historical relevance, and cultural significance,' the association said in a statement today. Titled 'The Origins of SMEs in Sarawak' and 'A Tribute to Entrepreneurship', the two-part mural installation traces the journey of small and medium enterprises in the state, from the Brooke era to the present day. The artwork not only captures the entrepreneurial spirit but also pays tribute to the values of peace, trade, and resilience that shape the local business community. The mural competition, hosted by Tropics City, aimed to rejuvenate public spaces and encourage community involvement. It attracted submissions from a wide range of local talents, each showcasing their passion for public art and urban beautification. As part of the event, Tropics City executive director Nicholas Wong led SME Association of Sarawak council members on a walkthrough of the mural sites, explaining the project's vision of promoting inclusive, dynamic urban environments through creative expression. Meanwhile, Ong applauded the initiative by Tropics City, and stressed the importance of platforms that support local talent. 'This is a meaningful platform that not only beautifies public spaces, but also uplifts local talent and promotes creative entrepreneurship. 'We are proud to support efforts that bridge culture, art and economic development,' he said. Kuching mural competition SME Association of Sarawak
Straits Times
a day ago
- Business
- Straits Times
S'pore's ‘most ambitious' volunteerism, philanthropy campaign to mark SG60
From right: Senior Parliamentary Secretary for Culture, Community and Youth Goh Hanyan, Colonel Chong Shi Hao – chairman of NDP 2025's executive committee – and National Volunteer and Philanthropy Centre CEO Tony Soh.. PHOTO: TARYN NG SINGAPORE – A national campaign to encourage volunteerism and philanthropy to commemorate Singapore's 60th birthday is its most ambitious edition yet, said Senior Parliamentary Secretary for Culture, Community and Youth Goh Hanyan. The third edition of the #GiveAsOneSG campaign will be longer, running for 60 days, and features more charities and causes than previously, said Ms Goh, who is also Senior Parliamentary Secretary for Sustainability and the Environment Speaking at the launch event on June 19, she said: 'Whether you are passionate about supporting persons with disabilities, engaging seniors, promoting our arts and sports or protecting the environment, there are meaningful opportunities for everyone.' The campaign, which is themed 60 Days of Giving to mark Singapore's 60th year of independence and runs until Aug 10, is jointly organised by the National Day Parade (NDP) committee and the National Volunteer and Philanthropy Centre (NVPC). Singaporeans can support a variety of causes such as people with disabilities, the elderly, animals and the environment listed at through donations or volunteering. One of the new initiatives introduced in 2025 is NVPC's Flexi Volunteering Programme (FVP), designed to help companies kick-start regular volunteering efforts, with opportunities that require lower frequency and hours. NVPC aims to get 60 companies by December to contribute at least 60 volunteer hours in at least two volunteering sessions each – adding up to a collective target of 3,600 hours – with 10 community partners, including the Autism Association (Singapore) and the Caregiving Welfare Association. Addressing company representatives at the launch event, NVPC chief executive Tony Soh noted that business can be a positive force for good in society. 'It does not matter where you sit in the corporate hierarchy or what role you play because there are diverse opportunities where everyone can give and everyone can contribute,' he said. 'It is not just about how much money you can give, but also about rallying your colleagues, business partners and friends to contribute in whatever ways they can, towards building a more caring, inclusive and compassionate society.' The FVP builds on insights from Project V, a 2023 pilot initiative by NVPC and the National Council of Social Service (NCSS) that matched companies with social service agencies that need ongoing support. This ensured reliable volunteer support for the agencies to improve their services and ensure they are able to make a difference to their causes consistently. Ms Goh called on Singaporeans to find a cause close to their heart to champion. PHOTO: TARYN NG Under Project V, over 2,400 corporate volunteers contributed more than 6,000 volunteer hours in 2024, touching the lives of over 10,000 service users, Ms Goh said. Among them were 48 volunteers from global agri-commodity firm Agrocorp International, who partnered with Bartley Community Care Services to promote mental and physical wellness among elderly residents. The #GiveAsOneSG campaign aligns closely with the broader theme of Majulah Singapura for NDP 2025, which honours 60 years of nation-building and looks ahead to the future, said Colonel Chong Shi Hao, chairman of the parade's executive committee and commander of the 3rd Singapore Division. 'The spirit of giving is synonymous with the spirit of celebrating as one Singapore. It strengthens the sense of belonging and unity among all Singaporeans... It reminds us that even as we progress, we are a nation that leaves no man behind,' he said. Mr Soh and Ms Goh playing with an assistant dog from charity K9Assistance. PHOTO: TARYN NG At the launch event held at the Devan Nair Institute For Employment And Employability in Jurong East, Ms Goh and Mr Soh also visited booths by various charities, including the Kidney Dialysis Foundation, Lions Home for the Elderly and K9Assistance. Among the community partners present was the Caregiving Welfare Association, whose executive director Steven Yeo welcomed the FVP, saying that he hopes the association can collaborate with companies to better support seniors and caregivers. 'As a community partner, we are excited to offer tailored volunteering opportunities that align with our mission of uplifting our beneficiaries, while engaging the corporate sector in ways that have a lasting impact,' he said. 'This initiative allows us to create stronger, more diverse partnerships that benefit both our cause and the volunteers who get involved, in support of SG60.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Singapore Law Watch
3 days ago
- Business
- Singapore Law Watch
Goh Jin Hian judgment clarifies scope of directors' duties, notes observers as ruling says directors should be a ‘sentinel', not a ‘sleuth'
Goh Jin Hian judgment clarifies scope of directors' duties, notes observers as ruling says directors should be a 'sentinel', not a 'sleuth' Source: Business Times Article Date: 17 Jun 2025 Author: Ranamita Chakraborty Observers say judgment offers practical guidance by narrowing the scope of when a director should be held liable for inaction. Former Inter-Pacific Petroleum (IPP) non-executive director Goh Jin Hian's recent win in his appeal in the Appellate Division of the High Court has given 'welcome relief' to other company directors with its clarification of the scope of directors' duties. The Appellate Division in a judgment on Jun 5 overturned a previous ruling requiring Goh to pay damages of US$156 million to the insolvent marine fuel supplier after IPP's liquidators had accused him of 'sleepwalking through his time as a director'. 'Welcome relief' Adrian Chan, first vice-chair at the Singapore Institute of Directors (SID) and head of corporate at Lee & Lee, said the successful appeal was a 'welcome relief' as it clarifies the boundaries of a director's responsibilities and what qualifies as actionable 'red flags'. The judgment, he added, offers practical guidance by narrowing the scope of when a director should be held liable for inaction. Had the lower court's judgment stood, Chan believes directors could face liability even when unaware of fraud committed by peers or when financial reports show no warning signs. Kelvin Law, associate professor of accounting at Nanyang Technological University's Nanyang Business School, said that the case demonstrated that correlation does not equal causation – a mere link is insufficient. He said: 'This case is a powerful reminder that a link isn't enough as a plaintiff must prove that the director's specific failure was the direct cause of the financial loss. To obtain damages, (the) plaintiff has to show that there's a causal relationship between negligence and damage.' Boey Swee Siang, partner at law firm RPC, pointed out that while Goh's failure to be aware of the cargo trading business constituted a breach of his duty of care, the court clarified that the 'red flags' identified by the company's liquidators were insufficient to trigger an inquiry into its financials. In Goh's case, he was only required to satisfy himself within reasonable limits regarding the company's financial position. 'The non-executive director is not required to make exhaustive inquiries into individual transactions or events, so long as these transactions or events were not, on their face, of such a nature as would raise immediate concerns,' added Boey. Yee Chia Hsing, an independent director at several Singapore Exchange-listed companies, agreed with the judgment, saying directors cannot be expected to be better than auditors and there is a right to presume no fraud unless clear warning signs exist. 'If (there is a) need to presume fraud, a lot of resources and effort would be wasted across the entire system as directors would need to be commissioning forensic investigations from auditors on a regular basis specifically to detect fraud,' he told BT. The court ruled that although Goh breached his duty of care by failing to stay informed about IPP's cargo trading operations, this breach was not due to ignoring red flags within the company. 'Get their hands dirty' Still, SID's Chan emphasised that directors, including non-executive ones, have a duty to guide and monitor management, going beyond mere compliance. He said: 'They have to ask tough questions, roll up their sleeves and get their hands dirty. Rather than playing the role of a mere sentinel, sleuth, investigator or watchdog... a director should more appropriately look upon himself or herself as an active steward – sometimes being called upon to play all these roles and more, as the circumstances and director duties demand it.' The judgment's reference to '(a) director may be a sentinel, but he is not a forensics investigator or a sleuth' resonated with Chan, who stressed that directors cannot simply stand watch passively. 'There really is no such thing as a 'sleeping director' as a director's duty to act in the best interest of the company is an active one that doesn't ever go to sleep,' he added. RPC's Boey believes this decision serves as a reminder to independent directors of listed companies that 'they do owe a duty of care to their companies, but also sets the standard of care to a reasonable one'. Directors and officers liability insurance Beyond training, Nanyang Business School's Prof Law highlighted the importance of having directors and officers liability insurance. 'It provides the financial resources to defend themselves – which, as this case shows, can be a long and expensive process even if they are ultimately successful,' he added. Chan also advised directors to read 'the fine print, exclusions, coverage, territory, and ensure that the scope and size of the sum assured is appropriate for the size of the business'. He pointed to several high-profile cases involving non-executive directors under investigation or charged for failing to disclose material, price-sensitive information – including Hyflux, Eagle Hospitality Trust, Raffles Education and Cordlife. 'The outcomes of these cases will bring further clarity to the role of directors on listed boards, and will help shape corporate governance in Singapore,' he added. Source: The Business Times © SPH Media Limited. Permission required for reproduction. Print
Business Times
4 days ago
- Business
- Business Times
Goh Jin Hian judgment clarifies scope of directors' duties, notes observers as ruling says directors should be a ‘sentinel', not a ‘sleuth'
[SINGAPORE] Former Inter-Pacific Petroleum (IPP) non-executive director Goh Jin Hian's recent win in his appeal in the Appellate Division of the High Court has given 'welcome relief' to other company directors with its clarification of the scope of directors' duties. The High Court in a judgement on Jun 5 overturned a previous ruling requiring Goh to pay damages of US$156 million to the insolvent marine fuel supplier after IPP's liquidators had accused him of 'sleepwalking through his time as a director'. 'Welcome relief' Adrian Chan, first vice-chair at the Singapore Institute of Directors (SID) and head of corporate at Lee & Lee, said the successful appeal was a 'welcome relief' as it clarifies the boundaries of a director's responsibilities and what qualifies as actionable 'red flags'. The judgment, he added, offers practical guidance by narrowing the scope of when a director should be held liable for inaction. Had the lower court's judgment stood, Chan believes directors could face liability even when unaware of fraud committed by peers or when financial reports show no warning signs. Kelvin Law, associate professor of accounting at Nanyang Technological University's Nanyang Business School, said that the case demonstrated that correlation does not equal causation – a mere link is insufficient. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up He said: 'This case is a powerful reminder that a link isn't enough as a plaintiff must prove that the director's specific failure was the direct cause of the financial loss. To obtain damages, (the) plaintiff has to show that there's a causal relationship between negligence and damage.' Boey Swee Siang, partner at law firm RPC, pointed out that while Goh's failure to be aware of the cargo trading business constituted a breach of his duty of care, the court clarified that the 'red flags' identified by the company's liquidators were insufficient to trigger an inquiry into its financials. In Goh's case, he was only required to satisfy himself within reasonable limits regarding the company's financial position. 'The non-executive director is not required to make exhaustive inquiries into individual transactions or events, so long as these transactions or events were not, on their face, of such a nature as would raise immediate concerns,' added Boey. Yee Chia Hsing, an independent director at several SGX-listed companies, agreed with the judgment, saying directors cannot be expected to be better than auditors and there is a right to presume no fraud unless clear warning signs exist. 'If (there is a) need to presume fraud, a lot of resources and effort would be wasted across the entire system as directors would need to be commissioning forensic investigations from auditors on a regular basis specifically to detect fraud,' he told BT. The court ruled that although Goh breached his duty of care by failing to stay informed about IPP's cargo trading operations, this breach was not due to ignoring red flags within the company. 'Get their hands dirty' Still, SID's Chan emphasised that directors, including non-executive ones, have a duty to guide and monitor management, going beyond mere compliance. He said: 'They have to ask tough questions, roll up their sleeves and get their hands dirty. Rather than playing the role of a mere sentinel, sleuth, investigator or watchdog... a director should more appropriately look upon himself or herself as an active steward – sometimes being called upon to play all these roles and more, as the circumstances and director duties demand it.' The judgment's reference to '(a) director may be a sentinel, but he is not a forensics investigator or a sleuth' resonated with Chan, who stressed that directors cannot simply stand watch passively. 'There really is no such thing as a 'sleeping director' as a director's duty to act in the best interest of the company is an active one that doesn't ever go to sleep,' he added. RPC's Boey believes this decision serves as a reminder to independent directors of listed companies that 'they do owe a duty of care to their companies, but also sets the standard of care to a reasonable one'. Directors and officers liability insurance Beyond training, Nanyang Business School's Prof Law highlighted the importance of having directors and officers liability insurance. 'It provides the financial resources to defend themselves – which, as this case shows, can be a long and expensive process even if they are ultimately successful,' he added. Chan also advised directors to read 'the fine print, exclusions, coverage, territory, and ensure that the scope and size of the sum assured is appropriate for the size of the business'. He pointed to several high-profile cases involving non-executive directors under investigation or charged for failing to disclose material, price-sensitive information – including Hyflux, Eagle Hospitality Trust, Raffles Education and Cordlife. 'The outcomes of these cases will bring further clarity to the role of directors on listed boards, and will help shape corporate governance in Singapore,' he added.
Business Times
4 days ago
- Business
- Business Times
Goh Jin Hian judgement clarifies scope of directors' duties, notes observers as ruling says directors should be a ‘sentinel', not a ‘sleuth'
[SINGAPORE] Former Inter-Pacific Petroleum (IPP) non-executive director Goh Jin Hian's recent win in his appeal in the Appellate Division of the High Court has given 'welcome relief' to other company directors with its clarification of the scope of directors' duties. The High Court in a judgement on Jun 5 overturned a previous ruling requiring Goh to pay damages of US$156 million to the insolvent marine fuel supplier after IPP's liquidators had accused him of 'sleepwalking through his time as a director'. 'Welcome relief' Adrian Chan, first vice-chair at the Singapore Institute of Directors (SID) and head of corporate at Lee & Lee, said the successful appeal was a 'welcome relief' as it clarifies the boundaries of a director's responsibilities and what qualifies as actionable 'red flags'. The judgment, he added, offers practical guidance by narrowing the scope of when a director should be held liable for inaction. Had the lower court's judgment stood, Chan believes directors could face liability even when unaware of fraud committed by peers or when financial reports show no warning signs. Kelvin Law, associate professor of accounting at Nanyang Technological University's Nanyang Business School, said that the case demonstrated that correlation does not equal causation – a mere link is insufficient. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up He said: 'This case is a powerful reminder that a link isn't enough as a plaintiff must prove that the director's specific failure was the direct cause of the financial loss. To obtain damages, (the) plaintiff has to show that there's a causal relationship between negligence and damage.' Boey Swee Siang, partner at law firm RPC, pointed out that while Goh's failure to be aware of the cargo trading business constituted a breach of his duty of care, the court clarified that the 'red flags' identified by the company's liquidators were insufficient to trigger an inquiry into its financials. In Goh's case, he was only required to satisfy himself within reasonable limits regarding the company's financial position. 'The non-executive director is not required to make exhaustive inquiries into individual transactions or events, so long as these transactions or events were not, on their face, of such a nature as would raise immediate concerns,' added Boey. Yee Chia Hsing, an independent director at several SGX-listed companies, agreed with the judgment, saying directors cannot be expected to be better than auditors and there is a right to presume no fraud unless clear warning signs exist. 'If (there is a) need to presume fraud, a lot of resources and effort would be wasted across the entire system as directors would need to be commissioning forensic investigations from auditors on a regular basis specifically to detect fraud,' he told BT. The court ruled that although Goh breached his duty of care by failing to stay informed about IPP's cargo trading operations, this breach was not due to ignoring red flags within the company. 'Get their hands dirty' Still, SID's Chan emphasised that directors, including non-executive ones, have a duty to guide and monitor management, going beyond mere compliance. He said: 'They have to ask tough questions, roll up their sleeves and get their hands dirty. Rather than playing the role of a mere sentinel, sleuth, investigator or watchdog... a director should more appropriately look upon himself or herself as an active steward – sometimes being called upon to play all these roles and more, as the circumstances and director duties demand it.' The judgment's reference to '(a) director may be a sentinel, but he is not a forensics investigator or a sleuth' resonated with Chan, who stressed that directors cannot simply stand watch passively. 'There really is no such thing as a 'sleeping director' as a director's duty to act in the best interest of the company is an active one that doesn't ever go to sleep,' he added. RPC's Boey believes this decision serves as a reminder to independent directors of listed companies that 'they do owe a duty of care to their companies, but also sets the standard of care to a reasonable one'. Directors and officers liability insurance Beyond training, Nanyang Business School's Prof Law highlighted the importance of having directors and officers liability insurance. 'It provides the financial resources to defend themselves – which, as this case shows, can be a long and expensive process even if they are ultimately successful,' he added. Chan also advised directors to read 'the fine print, exclusions, coverage, territory, and ensure that the scope and size of the sum assured is appropriate for the size of the business'. He pointed to several high-profile cases involving non-executive directors under investigation or charged for failing to disclose material, price-sensitive information – including Hyflux, Eagle Hospitality Trust, Raffles Education and Cordlife. 'The outcomes of these cases will bring further clarity to the role of directors on listed boards, and will help shape corporate governance in Singapore,' he added.
