Error 1904 - Crystal Reports

Hi there

I am installing Sage 300 ERP 2014 onto a laptop that has Windows 8.1.

During installation and at the point of installing till <Installing Crystal Reports 2011 Runtime>, we encountered the below message

Error 1904.Module C:\Program Files (x86)\SAP BusinessObjects\Crystal Reports for .NET Framework 4.0\Common\SAP BusinessObjects Enterprise XI 4.0\win32_x86\commonobjmodel.dll failed to register.  HRESULT -2147023782

Would appreciate if anyone could assist me on how to resolve this issue.

Thanks in advance