The Business Times
business-time-50

Fu Yu IDs ‘surprised’ at EGM requisition by largest shareholder following his failed application to be a director 

The independent directors reiterate that they do not have any control over the day-to-day operations of the company 

Summarise
Yong Jun Yuan

Yong Jun Yuan

Published Mon, Jan 13, 2025 · 09:06 PM — Updated Tue, Jan 14, 2025 · 05:10 PM
    • In his requisition notice, Lim says that substantial shareholder value has been erased since the two independent directors were elected to the board.
    • In his requisition notice, Lim says that substantial shareholder value has been erased since the two independent directors were elected to the board. PHOTO: BT FILE

    PRECISION plastic components manufacturer Fu Yu Corporation’s independent directors (IDs) Royston Tan and Christopher Huang were surprised that substantial shareholder Victor Lim has requisitioned for an extraordinary general meeting (EGM) to have them replaced, they said on Monday (Jan 13).

    In a bourse filing released last Thursday (Jan 9), Fu Yu announced that Lim had called for both Huang and Tan to be removed as directors of the company in the EGM.

    Lim also called for the appointment of Gilbert Rodrigues, Ralf Pilarczyk and Yang Zhenrong as independent non-executive directors.

    fu yu corpCorporate governance

    TRENDING NOW

    Anthony Lim, who will be taking over as chairman, spent 19 years at Singapore’s sovereign wealth fund GIC.

    Things to know about DBS’ incoming chairman Anthony Lim

    The dividend per share declared by DBS for Q3 2026 comprises an ordinary dividend of S$0.66 and a capital return dividend of S$0.15.

    DBS eyes prime brokerage business as Q3 profit falls 5% on weaker trading income

    Casa Mett was to have opened in early 2027 at 21 Cuscaden Road, where Ming Arcade used to stand.

    Royal Group and Sunset Hospitality abandon plans to open Casa Mett hotel off Orchard Road

    Former minister George Yeo bought 100,000 shares in agri-business Wilmar International from the open market at $2.97 each on Nov 4.

    George Yeo adds 100,000 Wilmar shares at S$2.97 apiece, taking stake to over 1 million shares

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More