Lew Syn Pau steps down as SUTL chairman, Richard Eu to be appointed ID

SUTL Enterprise's board will see some changes in the new year, with non-executive chairman Lew Syn Pau stepping down on Dec 31 and Eu Yan Sang's Richard Eu joining as an independent director.

Lew has been on the marina developer's board for more than 9 years. He is stepping down to allow for a board refresh and renewal, SUTL said in a bourse filing on Thursday (Dec 23).

On top of being non-executive chairman, Lew was the chairman of the board's remuneration and audit committee, as well as a member of the nominating committee. He has been an independent director of SUTL since April 2000.

Lew, who is also the non-executive chairman of Broadway Industrial Group, holds independent director roles at Sinarmas Land, Golden Energy and Resources, and Golden Agri-Resources. He was a Member of Parliament from 1988 to 2001.

Incoming independent director Richard Eu will join SUTL's board on Dec 31. Eu is the group chairman of Eu Yan Sang International - a Singapore healthcare company specialising in traditional Chinese medicine.

He was recommended and accepted by SUTL's board through internal nomination and assessment, the group said.

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Eu is also an independent director at Broadway Industrial and Tuan Sing. He stepped down as Eu Yang Sang International's chief executive officer in 2017 after a 10-year search for a successor.

Shares of mainboard-listed SUTL Enterprise closed 2.1 per cent or S$0.01 higher at S$0.49 on Thursday. 

READ MORE: Eu Yan Sang CEO to step down, hand over to outsider