CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2022 CORPORATE GOVERNANCE 26 27 BOARD OF DIRECTORS Mr Yeo is the Chairman of Economic Development Innovations Singapore Pte Ltd (EDIS) which provides strategic advice and undertakes the development and management of integrated industrial and urban areas with an emphasis on job creation and industrial cluster development. He is also an independent Director of Sunway Berhad and QAF Limited, which are listed on Bursa Malaysia and Singapore Exchange Securities Trading Limited (“SGX-ST”) respectively. Mr Yeo received the Singapore Public Administration Medal (Silver) in 1974, the Public Administration Medal (Gold) in 1982, the Meritorious Service Medal in 1991 and the Order of Nila Utama (First Class), Singapore’s most prestigious National Day Awards in 2006. He also received the Order of the Rising Sun, Gold and Silver Star from Government of Japan (2007) and the Distinguished Service (Star) award from the Singapore Labour Movement, National Trade Union Congress (2008). Mr Yeo holds a Bachelor of Applied Science (Industrial Engineering), an honorary Doctorate in Engineering from the University of Toronto, Canada, an honorary Doctorate in Medicine from the Karolinska Institutet, Sweden, a Master of Science (Systems Engineering) from the University of Singapore, a Master of Business Administration from Harvard University, USA, a Doctor of Science from Imperial College, London, an honorary Doctor of Letters from National University of Singapore and an honorary Doctor of Law from Monash University of Australia. ONG LIAN JIN COLIN Independent Non-Executive Director First appointment as Director 7 October 2020 Last re-election as Director 28 April 2022 Board committees • Nominating Committee (Chairman) • Remuneration Committee (Member) • Business China FutureChina Committee (Member) • Business China Go East Committee (Member) Past directorships in other listed companies* and principal commitments held in the preceding five years • Nil Mr Kwek assumed his current role as Group Chief Executive Officer in January 2018 after serving as CEO-designate from August 2017. He was appointed as an Executive Director of CDL in May 2019 and concurrently holds the position of Executive Chairman of CDL China Limited since 2016. Mr Kwek was previously the Deputy CEO and Chief Investment Officer of CDL. He joined CDL in August 2010 as the CEO of CDL China Limited. Prior to joining CDL, Mr Kwek was the CEO of City e-Solutions Limited, a Hong Kong-listed company that was formerly a subsidiary of CDL Group and engaged in the provision of hotel management and electronic distribution services to the global hospitality industry. Mr Kwek was also formerly the Chief Operating Officer of Thakral Corporation Ltd. and an Executive Director of HL Global Enterprises Limited, both listed companies in Singapore. In the earlier part of his career, he had worked in venture capital, investment banking, hospitality management and real estate private equity. In 2020, Mr Kwek was appointed to the Board of Trustees of the Chinese Development Assistance Council (CDAC), a non-profit self-help group for the Chinese community, and in 2021, he was appointed as a Member of the SingHealth Property Committee of Singapore Health Services Pte Ltd. In October 2022, he was also appointed as a Member of the Advisory Board for the National Youth Achievement Award and as a Member of Business China’s FutureChina Committee and Go East Committee. Mr Kwek had previously served as a Council Member of the Singapore Chinese Chamber of Commerce and Industry (SCCCI) for nine years until he relinquished the position in March 2022. As a nominee of SCCCI to the board of Business China, he also stepped down from this role in September 2022 but was reappointed to the two committees within Business China mentioned above. He was also formerly a member of the Council for Board Diversity and a board member of the Building and Construction Authority (BCA). He graduated from Boston University, USA with a Bachelor of Science in Business Administration, majoring in Finance and Marketing with a minor in Psychology. LEE JEE CHENG PHILIP Lead Independent Director First appointment as Director 4 January 2021 Last re-election as Director 30 April 2021 Board committees • Audit & Risk Committee (Chairman) • Nominating Committee (Member) • Remuneration Committee (Member) Present directorships in other listed companies* and principal commitments • ComfortDelGro Corporation Limited* (Director, Audit and Risk Committee Chairman, Nominating and Remuneration Committee Member and Digitalisation Committee Member) Other appointments • Singapore Agro-Food Enterprises Federation Limited (Governing Council Member) • Tech For Good Institute Limited (Board Member) Past directorships in other listed companies* and principal commitments held in the preceding five years • KPMG LLP (Partner) Mr Lee has more than 35 years of experience in accounting and finance. He was admitted into the partnership of KPMG Singapore in 1995 where he served as an audit partner until his retirement in September 2018. During his time at KPMG, Mr Lee had served on the leadership team in KPMG Singapore and on the executive team at KPMG Asia Pacific. In addition, he was the Head of Real Estate, Investment Banking, Private Banking and the Head of an Audit Business Unit. He was also the Head of People and led KPMG to various HR Awards. Mr Lee is also an independent nonexecutive director at ComfortDelGro Corporation Limited, a Member of the Governing Council of Singapore AgroFood Enterprises Federation Limited and a Board Member of Tech For Good Institute Limited. Mr Lee is a Fellow of the Institute of Singapore Chartered Accountants and of the Association of Chartered Certified Accountants, United Kingdom, and a member of the Singapore Institute of Directors. PHILIP YEO LIAT KOK Non-Independent Non-Executive Director First appointment as Director 11 May 2009 Last re-election as Director 30 April 2021 (Will be seeking re-election at the 2023 AGM) Board committees Nil Present directorships in other listed companies* and principal commitments • Economic Development Innovations Singapore Private Limited (EDIS) (Chairman) • Accuron Technologies Limited (Chairman) • Advanced MedTech Holdings Pte. Ltd. (Chairman) • Sunway Berhad* (Director) • QAF Limited* (Director) Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Hitachi Ltd* (Independent Director) • Kerry Logistics Network Limited* (Independent Director) • Spring Singapore • Baiterek National Managing Holding JSC, Kazachtan Present directorships in other listed companies* and principal commitments • Great Eastern Financial Advisers (Executive Senior Director) Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Nil Mr Ong is the Founder of Advisors’ Clique and Executive Senior Director of Great Eastern Financial Advisers, a position he has held since 2011. A veteran in the financial services industry with more than 30 years of experience, he has achieved the Million Dollar Round Table (MDRT) 28 times since 1993 and achieved the Top of the Table in 2020 and 2022. He is also a member of its prestigious MDRT Quarter Century Club. Mr Ong was a recipient of the Centennial Award by Great Eastern Life in 2008, an accolade awarded during its 100th anniversary in recognition of his contributions to the company. He was conferred the IBF Fellow award from the Institute of Banking and Finance and was named Asia’s Inspirational Leader of the Year by the Asia Insurance Review in 2015. Mr Ong holds a Bachelor of Arts & Social Sciences from the National University of Singapore. He is also a Chartered Life Underwriter and Chartered Financial Consultant. DANIEL MARIE GHISLAIN DESBAILLETS Independent Non-Executive Director First appointment as Director 20 November 2020 Last re-election as Director 30 April 2021 (Will be seeking re-election at the 2023 AGM) Board committees • Board Sustainability Committee (Member) • Remuneration Committee (Member) Present directorships in other listed companies* and principal commitments • FreshCreation Holdings Pte. Ltd. (Executive Chairman) • Salad Stop Pte. Ltd. (Executive Chairman) Since 1973, he has been holding senior positions with international hotel chains including InterContinental Hotel Group, Hilton, Shangri-La, Millennium & Copthorne Hotels Group, Fullerton Hotels and Resorts and TCC Hotels Thailand and has worked in various countries around the world. His responsibilities in the Corporate offices included regional hotel operations, finance, marketing, human resource, food & beverage (F&B) and asset management. Currently, Mr Desbaillets is the Executive Chairman of family-owned businesses in the F&B industry, FreshCreation Holdings Pte. Ltd. and Salad Stop Pte. Ltd., which have 75 outlets in Singapore, Malaysia, Indonesia, Philippines, Hong Kong, Japan, South Korea, Vietnam, Thailand and Spain that are owned, franchised and under joint ventures. Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Millennium & Copthorne Hotels Limited (Independent, Non-Executive Director) (delisted and privatised in 2019 and now known as Millennium & Copthorne Hotels Limited) Mr Desbaillets has an extensive portfolio in the hospitality industry with 44 years of experience. Mr Desbaillets was appointed to the Board of Millennium and Copthorne Hotels Limited (prior to its privatisation) in 2016 as an Independent Non-Executive Director and had served in the Audit & Risk, Remuneration and Risk Committees. In 2010, he was the Independent Non-Executive Director of M&C REIT Management Limited, the manager of CDL Hospitality Real Estate Investment Trust (H-REIT) and also of M&C Business Trust Management Limited, the trustee-manager of CDL Hospitality Business Trust (HBT) and had served in the Nominating and Remuneration Committees. Both H-REIT and HBT are comprised as a stapled group in CDL Hospitality Trusts, which is listed on the SGX-ST.
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