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What can LCB Cheng Li Hui contribute as Director in Sheng Siong?

Cottonmouth

Alfrescian
Loyal

Sheng Siong reshuffles board, appoints three new independent directors​

Atiqah Mokhtar Published on Wed, Dec 22, 2021 / 9:09 AM GMT+8 / Updated 2 hours ago
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Three independent directors at Sheng Siong Group will step down from the board effective Dec 31 - Goh Yeow Tin, Francis Lee and Jong Voon Hi.

According to filings to the Singapore Exchange (SGX), the resignations are part of a move to “engender a renewal of independent directors”. Lee, Goh and Jong have sat on the board since June 2011.


Tan Huay Lim, Ko Chuan Aun and member of parliament Cheng Li Hui have been appointed as new independent directors at Sheng Siong effective Dec 22.

Tan, 65, previously served as a partner at KPMG Singapore for 23 years until his retirement in 2015. Ko, 64, is currently chairman of HSK Resources, and previously was president and executive director of listed developer KOP.

Meanwhile, Cheng, 45 has been a member of parliament representing the Tampines East ward of Tampines Group Representation Constituency since 2015.



See also: GuocoLand group CFO resigns, GuocoLand Singapore CFO Andrew Chew appointed as replacement


Pursuant to their appointments, Patrick Chee will be re-designated as the lead independent director and chairman of the nominating committee, in place of Goh and Lee respectively with effect from Dec 31, while Tan Poh Hong will be re-designated as the chairman of the remuneration committee. She will also be appointed as a member of the nominating committee.

Following their appointments to the board, all three of the new independent directors will join the audit, nominating and remuneration committees with Tan Huay Lim to be chairman of the audit committee, with effect from Dec 31.

Chee Teck Kwong Patrick would be re-designated as the Lead Independent Director and the Chairman of the NC of the Company in place of Mr. Goh and Mr. Lee respectively with effect from 31 December 2021. Ms. Tan Poh Hong would be re-designated as the Chairman of the RC in place of Mr. Goh and appointed as a member of the NC of the Company with effect from 31 December 2021.

As at 9.05am, Sheng Siong shares are trading flat at $1.45.

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laksaboy

Alfrescian (Inf)
Asset
So when you shop at Sheng Siong, you are indirectly funding a pappy bitch. Directors don't work for free.

Better give your business to the good jiuhu folks at Giant.
 

red amoeba

Alfrescian (Inf)
Asset
I suspect they are being advised to include a PAP member onto their board. Open doors and ease procedures. You can expect more Sheng shiong outlets soon.

Profitable temples and mosques also have a PAP advisor on their board.
 

myfoot123

Alfrescian (Inf)
Asset
That is a good idea ! Her "Buy high sell low" antics will only benefit consumers.
Those Jiu Hu kia will quit in masses and replaced by Lau Aunties like those in NTUC. No more 3 month bonuses because Whore Jinx is not a fan of incentivising blue collar workers.
 

congo9

Alfrescian
Loyal
Being an MP has its perks. You enjoy directorship in a PTE company, you still get paid for being a grassroot leader and as an MP. If you can be there for 2 cycles as MP, you be given perks for rest of life like pension.

Who say kowtowing to PAP might and charm is no good ???
 
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