DLF founder explains to SGX why he turfed out entire board

Singapore

THE founder of DLF Holdings dismissed all his directors at an annual meeting two ago weeks because he was dissatisfied with the performance of one executive director, he told the Singapore Exchange (SGX) on Wednesday.

Manfred Fan Chee Seng, who founded and owns 42 per cent of Catalist-listed engineering firm DLF Holdings, was asked by the SGX to explain how he came to be the last man standing on the board.