[SG] Is this unethical poaching?

I joined a new industry and in my 5th day of work (3rd day of work after 2 days of orientation), i was asked to find contact numbers of a pile of director level candidates cos the company is too cheap to use the agency that supplied these resumes. They gave me a hr contact list of competitor companies and obviously asked me to go contact them for contact numbers of these candidates.

To me, this is kinda dangerous not only for candidates but also for me.

Am i on the right track of thoughts on this? I dont feel uncomfortable with the way this HR director works and am thinking of exiting the company this week to cut short this compliance/ethics nightmare.