According to article 80 of the company’s constitution, at least one-third of HPL’s board will have to retire by rotation at every AGM. All directors will retire at least once every three years.
Ong Beng Seng, the managing director and co-founder of Hotel Properties (SGX:H15
) Limited (HPL), will be stepping down from his role due to health reasons. Ong was reported to be battling bone cancer in February this year while he was facing charges related to former transport minister S Iswaran's case.
According to HPL's latest annual report for the FY2024 ended Dec 31, 2024, Ong will also not be putting himself up for re-election at the company’s next annual general meeting (AGM) on April 29.
