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Fabchem independent director Desmond Ong resigns
FABCHEM China Limited, a mainboard-listed manufacturer of initiation systems, boosters and detonating cords, on Friday said that Ong Tai Tiong Desmond has resigned as an independent director of the company with effect from Thursday.
Concurrent with the cessation of Mr Ong's appointment as independent director, he had ceased to be the lead independent director, chairman of the remuneration and nominating committees, and member of the audit committee.
The 47-year-old, who was appointed as independent director from Feb 17, 2006, said that the reason for his departure was to "concentrate on professional and other commitments".
Fabchem is in the process of identifying a suitable candidate for Mr Ong's replacement and will "announce accordingly once finalised".