Singapore's Senior Minister Shanmugam warned agricultural firms they cannot evade responsibility for the haze, prompting a sell-off in several listed companies.
01Summary
- 01Bumitama Agri fell as much as 6.5%, First Resources dropped 4.83%, and Golden Agri Resources and Wilmar International slipped almost 2%.
- 02Shanmugam revealed the Singapore Exchange had questioned seven companies about their operations and possible links to the haze.
- 03Fire or smoke source points appear to be associated with First Resources, Bumitama Agri, and non-listed First Borneo Plantations.
- 04Shanmugam said Singapore may amend or introduce new laws urgently to ensure cooperation from firms linked to the haze.
- 05The haze has affected businesses and daily life in Singapore and Malaysia, with air quality in Singapore hitting levels not seen since 2015.
02Why it matters
This matters because the haze directly affects public health, daily life, and businesses; the government's determination to act could hit the profitability and financing of implicated companies.
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