Executive moves: Olam, OFI, CapitaLand China Trust, Frencken, OUE, Shen Yao, Food Empire, CAO (Singapore)

The Ascendas Xinsu portfolio, one of CapitaLand China Trust's business park assets. Credit: CapitaLand InvestmentThe Ascendas Xinsu portfolio, one of CapitaLand China Trust's business park assets. Credit: CapitaLand Investment

Singapore companies announcing executive changes: Olam International and Olam Food Ingredients (OFI), CapitaLand China Trust, Frencken Group, OUE, Shen Yao Holdings, Food Empire Holdings, China Aviation Oil (Singapore) and ABR Holdings.

Olam International and Olam Food Ingredients (OFI)

Shekhar Anantharaman, age 58, will resigned as executive director of Olam International, effective 31 December, a role he has held since 1998, Olam said in a filing to SGX Friday.

As part of Olam’s reorganisation into two new operating groups, which will include seeking an initial public offering (IPO) for Olam Food Ingredients (OFI), Shekhar Anantharaman is being appointed as OFI’s CEO.

“The stepping down of Mr. Shekhar Anantharaman as executive director on the board of the company will enable him to focus on his responsibilities as OFI CEO,” Olam said.

He holds 19.92 million shares Olam, and has 3.25 million options to subscribe for shares, as well as 2.15 million unissued shares as share awards, the filing said.

CapitaLand China Trust

CapitaLand China Trust‘s manager said Friday Fong Heng Boo, age 72, will retire as non-executive independent director, effective Friday. He was appointed to the role in 2013, the trust said.

In addition, Professor Ong Seow Eng, age 61, will be appointed as non-executive independent director, the trust said in a filing to SGX. He is currently a professor of real estate at the National University of Singapore, the filing said.

“Professor Ong’s knowledge and experience in real estate and finance, as well as his substantial work experience in investment and portfolio management, derivative analysis and property valuation will enable him to contribute to the deliberations of the board,” CapitaLand China Trust said.

Frencken Group

Frencken Group said Friday it has appointed Brian Tan Chuen Yeang, age 49, as chief financial officer, effective Friday.

His work experience has included being chief financial officer at USG Boral Malaysia & Singapore, and director of treasury and investment management at Nasser Bin Khaled Group in Qatar, the company said in a filing to SGX.

David Chin Yean Choon, age 71, retired as chief financial officer, effective Friday, a filing said. He was appointed to the role in 2002, the filing said.

OUE

OUE Ltd. said Friday it appointed Dr. Lim Boh Soon, age 65, as the lead independent director.

From January 2001 to the present, Lim has been the founder and managing partner of Arise Asset Management, OUE said in a filing to SGX. He was also an independent director of OUE Commercial REIT Management from June 2017 to September 2019, the filing said.

In addition, OUE said it appointed Goh Min Yen, age 61, as independent director, effective Monday. She has been the managing director of Eng Wah Group since 1994, the filing said.

Sin Boon Ann will be re-designated as a non-executive non-independent director, a filing said.

Shen Yao Holdings

Shen Yao Holdings said Friday it appointed Teo Qin Pei, Jessica, age 40, as deputy CEO, effective 1 January.

From July 2020 to the present, she has been the assistant CEO (corporate finance) at Shen Yao Holdings, and from January 2013 to July 2020, she was the deputy director for business and corporate development at Shen Yao Holdings, which was formerly known as LionGold, the company said in a filing to SGX.

She holds 375,000 shares of the company, the filing said.

In addition, Sun Shuwen, age 38, was appointed as financial controller, effective 1 January, a filing said. She has been a finance manager at Shen Yao since May 2021, and was a finance manager at Keppel Logistics, a filing said.

Wang Yong, age 50, has been appointed executive director, effective 1 January, a filing said. He has been Shen Yao’s chief operating officer since October 2020 and will also retain that role, a filing said.

Sun Shu, the lead independent director, will be appointed as the non-executive vice chairman, effective 1 January, a filing said.

Shen Yao Holdings is a gold mining and exploration company, with operations in Australia. In addition, Shen Yao invests in undervalued public companies in the Asia Pacific region, as well as investing in private companies. Shen Yao Holdings also backs the Plutus Mazu hedge fund.

Food Empire Holdings

Food Empire Holdings said Friday it appointed Adrian Chan Pengee, age 57, as independent non-executive director, effective 1 January 2022.

Chan is the head of corporate department and senior partner at Lee & Lee Advocates & Solicitors, the company said in a filing to SGX.

In addition, Ong Kian Min will be re-designated as a non-executive non-independent director from an independent non-executive director, effective 1 January, as he has served on the board for more than nine years, Food Empire said.

“In view of Mr. Ong’s capabilities, qualifications, experience and his vast knowledge of the operations of the Food Empire Group, the Nominating Committee believes that Mr. Ong can continue to contribute effectively to the board,” the filing said.

The company is a food and beverage maker, with products including instant beverages, frozen convenience food and snack food. Its brands include Kracks potato chips, Orien Bites frozen finger food, Bolt malt drink and three-in-one instant coffee brands CafeRite and Petrovskaya Sloboda.

China Aviation Oil (Singapore)

China Aviation Oil (Singapore) said Friday that Conrad F.J. Clifford, age 63, would cease to be a non-executive independent director. He had been appointed to the role in February 2021, the company said.

Clifford planned to step down due to heavy work commitments after being promoted to senior vice president and deputy director general of IATA, CAO (Singapore) said in a filing to SGX.

ABR Holdings

ABR Holdings said Friday Leck Kim Seng, age 67, would step down as executive director for personal reasons, effective 1 January. He was appointed to the role in 2002, the company said in a filing to SGX.

Leck Kim Seng is the uncle of Executive Director Ang Lian Seng and the cousin of Managing Director Ang Yee Lim, the filing said. Leck Kim Seng holds 300,000 shares of the company, the filing said.

In addition, Ang Jun Hung, age 29, has been appointed alternate director to Ang Yee Lim, effective 1 January, a filing said. Ang Jun Hung is also the group investment manager, and supports the directors in the day-to-day management of operations and oversees the group’s investments and execution of strategies, a filing said.

Ang Jun Hung is the son of Managing Director Ang Yee Lim and the cousin of Executive Director Ang Lian Seng, the filing said.

 

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