Shanghai Turbo names 4 new independent directors; 3 independent directors quit
SHANGHAI Turbo Enterprises has appointed four new independent directors to faciliate the renewal of the board to provide a fresh perspective, it said in a filing with the Singapore Exchange.
Wee Liang Hiam, Leng Yew Chee Philip, Ong Sing Huat and Seet Chong Tong have been appointed non-executive independent directors. Meanwhile, Jack Chia Seng Hee, Raymond Lim Sian Heong and Cheung Hok Fung, Alexander have resigned as independent directors.
This comes after the Singapore Court of Appeal ordered that the company's extraordinary general meeting (EGM) which was due to be held on July 24 be postponed. At the EGM, shareholders were due to vote on resolutions calling for the removal of Mr Chia, Mr Lim and Mr Cheung as directors.
Mr Wee has been appointed lead independent director, chairman of the remuneration committee (RC) and a member of the audit committee (AC) and the nominating committee (NC). Mr Leng has been appointed chairman of the AC and a member of the RC and the NC, and Mr Ong has been appointed chairman of the NC and a member of the AC and the RC.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece