Change - Announcement of Cessation::Cessation of Managing Director

Issuer & Securities

Issuer/ Manager
HOTEL PROPERTIES LIMITED
Securities
HOTEL PROPERTIES LTD - SG2P14002527 - H15
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Apr-2025 08:24:54
Status
New
Announcement Sub Title
Cessation of Managing Director
Announcement Reference
SG250414OTHRUOLT
Submitted By (Co./ Ind. Name)
Joanna Lim
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Managing Director

Additional Details

Name Of Person
Ong Beng Seng
Age
79
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2025
Detailed Reason (s) for cessation
As Mr. Ong wishes to devote more time to manage his medical conditions, Mr. Ong will not be putting himself up for re-election as a Director and will cease to be a director and step down as Managing Director at the conclusion of the Forty-Fifth Annual General Meeting to be held on April 29, 2025.
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
05/03/1980
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
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.)
Managing Director and member of the Remuneration Committee
Role and responsibilities
Responsible for all aspects of strategic planning and business development activities of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Brother-in-law of David Fu Kuo Chen
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Disclosed in the Directors Statement on pages 18 to 21 of the Annual Report 2024.
Past (for the last 5 years)
Kuo International (Pte) Ltd
Kuo Oil (S) Pte Ltd
Kuo International Oil Inc
Kuo Hotel Corporation
Hotel Properties Limited
HPL Properties Pte Ltd
HPL Orchard Place Pte Ltd
HPL Investment & Development Pte Ltd
HPL Resorts (Maldives) Private Limited
Hard Rock Cafe Pte Ltd

Present
- Avant Hotels International Limited and subsidiaries
- Sextant Investments Limited group of companies
- Moco Private Limited
- Reef Holdings group of companies
- Cuscaden Partners group of companies
- Cobs Holdings Pte. Ltd.
- Scorpa Shipping Holdings S.A.
- Como Holdings Inc group of companies
- Kuo Investments Limited
- Kuo International Oil Ltd
- Kuo Properties Inc
- Sovereign Enterprises Sdn Bhd
- Como Holdings Pte Ltd
- Rizona (Hong Kong) Ltd
- True Harmony Investments Ltd