REAL estate conglomerate Heeton Holdings has appointed former Member of Parliament (MP) Lee Bee Wah as its independent non-executive director effective Wednesday (Apr 27), the company announced after its annual general meeting (AGM) on the same day. 

It added that independent directors Tan Tiong Cheng and Chia Kwok Ping, who did not seek re-election during the meeting and are due to retire, have stepped down from their positions at the conclusion of the AGM.

Lee had previously served as an MP for Ang Mo Kio Group Representation Constituency (GRC) from 2006 to 2011, and for Nee Soon GFC from 2011 to 2020. At Heeton, she has also been appointed chair of the nominating committee, member of the audit committee, and member of the remuneration committee.

In an earlier bourse filing on Apr 27, Heeton also responded to queries from the Singapore Exchange, including those about its directors. 

On its board diversity progress, the company said: “The board is of the view that its size, and the size of the board committees, and level of independence is appropriate and comprises directors who, as a group, have an appropriate balance and mix (as well as breadth and depth) of skills, knowledge and experience, and diversity of thought, so as to foster constructive and robust debate and avoid groupthink.”

“While, at this point, the board has not implemented a specific board diversity policy, in the interests of maintaining a collaborative corporate culture, the company endorses the benefits of diversity at staff, management and board levels”, it added.

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On disclosure of remuneration, Heeton said that the company has provided details of the on remuneration policies and procedures, as well as the level and mix of the remuneration of each individual director and the top 5 key management personnel.