Here's something interesting:
The parent company Terraform Labs Pte. Ltd., registered by Do Kwon in Singapore, has a registered capital of 12 SGD, which was approximately 50 RMB at that time.
Do Kwon holds 11 SGD in shares, while another American shareholder holds 1 SGD.
I paid a fee of 5.5 SGD in 2022 to download it from the Singapore ACRA government website.
That was during the Terra collapse; I learned from the news that Terraform registered its headquarters in Singapore back in 2018, so I spent money to buy a copy.
Indeed, pulling a fast one.
Did those who suffered huge losses on Terra not look into or investigate the details of this company's headquarters?
We should give a thumbs up to Singapore's company registration system; any Singaporean with local identity can spend 5.5 SGD to download the registration papers of any locally registered company from the ACRA government website. Businesses should do background checks on partners, job seekers can also check their employers, and when selling stocks or buying tokens, one can check these companies' backgrounds.
The registration paper for Terraform Labs Pte. Ltd. that I downloaded is on my phone; I can keep it for my own background checks, but I cannot disseminate it, otherwise the identification numbers of others are included, and sharing it could be illegal.
