Hong Leong Asia CEO Philip Ting to resign, with Tan Eng Kwee tapped to replace him

Singapore two-dollar bills

Hong Leong Asia said on Monday that its CEO and Director Philip Ting Sii Tien, age 64, has given notice of his plan to resign to pursue other interests, effective 6 January 2019.

The company has tapped Tan Eng Kwee, age 64, to replace Ting, with Tan’s appointment as director to take effect from 10 December, it said in a filing to SGX after the market close on Monday.

Tan will join the company as CEO-designate on 10 December to allow for a smooth transition into the CEO role, with full responsibilities to take effect on 7 January, the filing said.

“Tan, who was formerly the chief financial officer (CFO) of the company from 2008 to 2011, has more than 30 years of operations, corporate, accounting and financial experience,” Hong Leong Asia said, adding that since then he has held senior management positions in Perennial China Retail Trust Management, Dynapack Asia, and Epsilon Global Communications.

Ting has also given notice of resignation as director of HL Global Enterprises, it said in a separate filing to SGX on Monday.

Get the Shenton Wire morning briefing in your inbox