Tan Chian Khong, lead independent director of CSE Global (SGX:544
) has resigned with effect from June 2.
In the June 2 filing, CSE Global mentioned that Tan’s resignation was due to “differences of views with regard to working with controlling shareholders.”
Based on CSE Global’s latest annual report, Heliconia Capital, an indirect unit of Temasek, is the single largest controlling shareholder, which holds a 23.79% stake in the company.
“Shareholders should be concerned with any differences of views with regards to working with controlling shareholders given that the management are the key value drivers for the company,” CSE Global states in the same filing.
Shares of CSE Global closed 4 cents lower, or 2.37% down at $1.65 on June 2. On a year-to-date basis, its share price has gained 60.2%.
