Centurion sets up exco to assist board with oversight duties

MAINBOARD-listed Centurion Corporation has set up an executive committee (exco) to assist its board with its oversight responsibilities, the property management company said in a bourse filing on Monday (Jan 3).

The exco, which was established on Jan 1, is thus given some say when the board makes business decisions and evaluates major strategic initiatives including acquisition or disposal transaction, based on the authority delegated to the committee, Centurion stated.

Heading the exco as chairman is joint chairman of the board David Loh Kim Kang, who is an executive director.

In his team are fellow joint chairman Han Seng Juan, a non-executive director; deputy chairman Wong Kok Hoe, an executive director; Kong Chee Min, the chief executive officer; and Teo Peng Kwang, the chief operating officer of Centurion's accommodation business.

News of the exco's formation came a few months after tensions boiled at the Westlite dormitory at Jalan Tukang, which is operated by Centurion, over the handling of Covid-19 patients within, and the poor quality of food provided to workers there.

The dormitory's 1,400 residents work for Sembcorp Marine (Sembmarine).

In a Hock Lock Siew column on Oct 26, 2021, a Business Times correspondent had pointed out that the images and stories shared by workers online stood in stark contrast with what is presented in the annual and sustainability reports produced by the two companies.

The article elicited a response from Kong, who claimed that the situation at Westlite Jalan Tukang was a "unique, unexpected incident".

Centurion is dual-listed on the Singapore Exchange and the Hong Kong Stock Exchange.

Its Singapore shares OU8 closed flat at S$0.33 on Monday, while its Hong Kong shares last closed flat at HK$1.88.