Nam Lee’s Joanna Yong ceases to be chairman
The requisitioning shareholders’ rationale has yet to be announced
[SINGAPORE] Shareholders of Nam Lee Pressed Metal Industries voted on Friday (Jan 9) to remove Joanna Yong as a director of the company, following a requisition by two substantial shareholders.
At the extraordinary general meeting (EGM) held on Friday morning, 67.6 per cent of the total valid votes were cast in favour of the resolution to remove her.
She has ceased to be the chairman and executive director of the mainboard-listed metal products manufacturer with immediate effect.
A total of about 152.5 million shares were represented by votes for the resolution, while around 49.5 million shares (32.4 per cent) were voted against it.
The ouster comes after the company received a requisition notice on Nov 21, 2025, from shareholders Yong Kin Sen and Yong Poon Miew, who hold a combined stake of more than 10 per cent in the company. Joanna Yong is the niece of the requisitioning shareholders.
The move to unseat Joanna Yong was shrouded in mystery even after the EGM. In a bourse filing earlier last week, Nam Lee noted it had not received any formal or informal concerns regarding her performance, independence, or oversight responsibilities prior to the requisition.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The boardroom shake-up also takes place against the backdrop of a separate compliance matter involving the company’s managing director, Eric Yong, who is a cousin of Joanna Yong.
In October 2025, the company disclosed that Eric Yong had been interviewed by the Corrupt Practices Investigation Bureau in connection with a whistle-blower report containing allegations against him.
The company previously clarified that it was unaware if the move to remove Joanna Yong was in any way related to the allegations that led to Eric Yong’s interview or other internal disagreements.
The company has yet to announce a replacement for the chairman’s role.
Shares of Nam Lee ended at S$0.66, S$0.02 or 3.1 per cent higher on Friday, before the release.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
