Chiwayland appoints Thio Shen Yi as independent director

CHINESE real estate developer Chiwayland International has appointed corporate litigator Thio Shen Yi to its board as an independent non-executive director, with effect from Friday.

Mr Thio, a senior counsel and joint managing director of TSMP Law Corporation, also serves as the president of the Law Society of Singapore.

He has been appointed as chairman of the firm's nominating and remuneration committees, mainboard-listed Chiwayland said in a Singapore Exchange filing on Friday.

Mr Thio's appointment was in line with the firm's efforts to "internationalise its businesses and to further enhance its level of corporate governance to international standards", Chiwayland said.

The firm added in the filing that, with effect from Friday, its executive director Li Bin has resigned from his role.

Mr Li's resignation was to "comply with good corporate governance practice" of having independent directors make up half of its board, Chiwayland said.

However, Mr Li will continue to take part in the firm's management by serving as its president, Chiwayland added.