Change - Announcement of Cessation::Announcement of Cessation of Executive Chairman and Director

Issuer & Securities

Issuer/ Manager
HOE LEONG CORPORATION LTD.
Securities
HOE LEONG CORPORATION LTD. - SG1S47927920 - H20
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Sep-2023 17:41:29
Status
New
Announcement Sub Title
Announcement of Cessation of Executive Chairman and Director
Announcement Reference
SG230906OTHRNKWN
Submitted By (Co./ Ind. Name)
Yeo Puay Hin
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Mr Liew Yoke Pheng Joseph ("Mr Liew") as Executive Chairman and Director

Additional Details

Name Of Person
Liew Yoke Pheng Joseph
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
31/10/2023
Detailed Reason (s) for cessation
Mr Liew had played a significant role in the corporate restructuring of Hoe Leong Corporation Ltd ("the Company") which started in 2019.

He brought in an investor in 2020, to strengthen the Company's working capital and had helped to reinstate the Company as a going concern. The Company's shares resumed trading on the SGX Mainboard on 25 June 2021.

Mr Liew is stepping down from his Executive Chairman and Director's role to focus on other commitments in other companies and voluntary welfare organisations.
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
23/10/2019
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Director, and a member of the Nominating Committee
Role and responsibilities
Executive Chairman and Director. Responsible for the Group's business operations and strategic planning.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
96,000,000 shares
Past (for the last 5 years)
1. Innovalues Limited; and
2. Shanghai Turbo Enterprises Ltd.
Present
1. Trackspares Global Pte Ltd;
2. Hoe Leong Crawler Parts Pte Ltd;
3. Ho Leong Tractors Sdn Bhd;
4. Trackspares (Australia) Pty Ltd;
5. Trackex Pty Ltd;
6. Korea Crawler Track Ltd;
7. Grand Venture Technology Limited;
8. Lew Foundation;
9. Char Yong (Dabu) Foundation; and
10. Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited