Yes, a company can arbitrarily increase its registered capital. However, it is necessary to call for a general meeting of shareholders and pass a resolution to increase the registered capital. Then the resolution, together with the completed form and the appropriate fees, is submitted to the relevant government authorities to make the change official.
The Companies Act does not specify the date on which a financial year shall commence or end. Determining the financial year, including any changes thereof, is entirely a company’s discrete decision. However, a Singapore company’s first financial year cannot exceed 18 months from its incorporation, and each subsequent financial year is fixed at 12 months. Companies that are regarded as a “small company” for a particular financial year, or are dormant, are exempt from audit requirements. Unless it meets the criteria of a dormant or “small company”, a Singapore company has to appoint one or more auditors to report the company’s accounts to the company’s shareholders within 3 months from the date of registration.