Is it cause for concern if an Interior Design company is not in the HDB Registered Renovation Contractors list?

[RyanYTH 87]

As topic.

I refer to this official HDB link where they list out the list of companies and any demerit points they may have.
Page that describes this:
http://www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/renovation/looking-for-renovation-contractors
Actual Search Page:
https://www20.hdb.gov.sg/bn25/isos118p.nsf/List+by+Company?OpenView&Count=15&Start=1&RestrictToCategory=A#

Here is the exact clause as given by HDB:
"These contractors are registered under the HDB Registered Renovation Contractors' Scheme (RRCS) to ensure that they are aware of the HDB’s requirements
when they carry out renovation works and to protect the structural integrity of the building. HDB does not endorse nor guarantee the quality of their works."

Would it be considered a RED FLAG WARNING if a company is not even listed in it?

What are your opinions on it?

Edited April 13, 2017 by ryanyth