Shares of several Singapore-listed agricultural companies fell Tuesday after Senior Minister K Shanmugam warned they won't "escape responsibility" for their possible role in the haze blanketing the city-state.
"Companies cannot play hide and seek" with different corporate structures, hoping that will help them, Shanmugam said, revealing that seven companies had been questioned by the Singapore Exchange.
Bumitama Agri fell as much as 6.5%, while First Resources dropped to a low of 4.83%. Golden Agri Resources and Wilmar International slipped almost 2%.
Shanmugam, who is also home affairs minister for the city-state, said that some of the fires or smoke source points seem to be associated with First Resources, Bumitama Agri, as well as non-listed First Borneo Plantations.
"Take, for example, First Resources. It issued a detailed statement on its zero burning policy and firefighting efforts ... but statements, no matter how well drafted, are not good enough. Show us the evidence."