Indian-origin director of Singapore water company fined SGD 90,000

An Indian-origin former independent director of a Singapore company was fined SGD 90,000 for failing to disclose information related to an integrated water and power project in 2011 as required under relevant rules.

A district court here handed down fine to Rajsekar Kuppuswami Mitta of Hyflux company on Thursday after he pleaded guilty of company’s failure to disclose information relating to the Tuaspring integrated water and power project as required under Singapore Exchange (SGX) listing rules on March 7 that year.

The Straits Times reported that Rajsekar, a 68-year-old Australian citizen and a permanent resident of Singapore, was also barred from acting as a company director for five years.

A second charge, for non-disclosure related to Hyflux’s offer of SGD 200 million worth of shares on April 3, 2011, was taken into consideration during sentencing.

Six others who have also been charged with disclosure-related offences – including Hyflux founder and former chief executive Olivia Lum Ooi Lin – are contesting their charges in a trial scheduled from August 11 to February 5, 2026.

Hyflux, once a celebrated water treatment company in Singapore, officially collapsed in 2021 after facing financial woes from its foray into the energy business through the Tuaspring plant in Singapore.