Shareholders, Sias raise concerns over Chemical Industries’ C-suite resignations, alleged ‘post-retirement perks’
SHAREHOLDERS of Chemical Industries (Far East) (CI) have raised concerns over issues including a spate of senior management resignations, and money spent on alleged “post-retirement perks” awarded to co-founder and emeritus chairman Lim Soo Peng.
The group of its minority shareholders, who claim to own at least 10 per cent of the shares of the mainboard-listed company, also took issue with the nomination of non-management independent director Lim Yew Nghee – the son of Lim Soo Peng – as deputy chairman.
The Business Times understands that the group of shareholders includes Malaysian chemical manufacturing company Batu Kawan, which holds a 6.55 per cent stake in CI.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Dolce & Gabbana metaverse fashion offering leaves shopper fuming
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
CEO of fallen Eagle Hospitality Trust seeks to contest four disclosure-related criminal charges
Crypto boom, erratic rain spark outages in Laos, Asia’s clean power export hub
Bank of Japan in no rush to sell risky asset holdings
Gold prices set for second weekly gain on Fed rate outlook