Troubled Singapore-based startup, honestbee is no longer under court protection. The company now faces possible liquidation. There have been questions on whether the company will be able to pay off its creditors, given its current cash-flow problems. Its former directors are being investigated to see if creditors had been given unfair preferential treatment on payments.  

Reshmi Khurana, Managing Director and Head of Southeast Asia in the Business Intelligence and Investigations practice of Kroll, a division of Duff & Phelps, recently spoke with The Straits Times about this company. She said the investigations reflect a part of the company’s duty to adhere to corporate governance standards. 

Reshmi said investors and stakeholders are more cautious about how firms are managed given the uncertain economic climate, which existed even before COVID-19. “It's not just because of high-profile startups with (public lapses),” she added. 

Subscribers of The Straits Times can read the full article here.

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