Do Singapore regulators need a bigger stick to deter corporate misconduct following Noble Group’s case?

SINGAPORE – The biggest fine on a company in Singapore’s history has ironically led to talk on whether regulators have let the offenders off too easily.

The $12.6 million penalty on Noble Group, after a four-year probe for improper accounting and misleading financial statements, does pale in comparison to the company’s market value of US$10 billion and annual income of over a billion in its heyday.