News
Change - Announcement Of Relinquishment Of Independent Non-Executive Director
BackJun 04, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jun 4, 2025 21:40 |
| Status | New |
| Announcement Sub Title | Relinquishment of Independent Non-Executive Director |
| Announcement Reference | SG250604OTHRQW7O |
| Submitted By (Co./ Ind. Name) | Goh Toh Sim |
| Designation | Executive Director & CEO |
| Description (Please provide a detailed description of the event in the box below) | Relinquishment of Independent Non-Executive Director and Lead Independent Director, a member of the Nominating and Risk Committee, and stepping down as Acting Chairman of the Board. |
| Additional Details | |
| Name Of Person | Chan Heng Wing |
| Age | 78 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 21/06/2025 |
| Detailed Reason (s) for cessation | In view of the 9-year tenure limit for independent directors, Mr Chan Heng Wing ("Mr Chan") will be stepping down as Independent Non-Executive Director of the Company pursuant to Listing Rule 210(5)(d)(iv). The Board would like to express its gratitude towards Mr Chan for his valuable and contributions to the Company during his tenure of service. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 21/06/2016 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | No |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Acting Chairman of the Board, Independent Non-Executive Director, Lead Independent Director, and a member of the Nominating and Risk Committee |
| Role and responsibilities | Non-Executive. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 300,000 Units in EC World REIT |
| Past (for the last 5 years) | 1. Banyan Tree Holdings Limited 2. Fraser Property Limited 3. Precious Treasure Pte Ltd 4. Precious Quay Pte. Ltd. 5. Club Street Social Pte. Ltd. 6. Milken Institute Asia Center |
| Present | 1. Fraser and Neave Limited 2. One Bangkok Holdings 3. Decker Barbecue Pte. Ltd. |