Mainboard-listed construction group and property developer Tiong Seng Holdings has appointed former member of parliament (MP) Teo Ho Pin as an independent board director of the company on Oct 12.
Teo’s appointment will take effect from Oct 15, and will bring the total number of independent directors on Tiong Seng’s board to three from two previously.
Teo is a long-serving politician with a career in public service for over 23 years as an MP for Sembawang GRC, Holland-Bukit Panjang GRC and Bukit Panjang SMC.
Teo, who was also Mayor of the North-West District, deputy government whip and chairman of the Holland-Bukit Panjang Town Council, announced his retirement in 2020 and did not stand for the 2020 Singaporean general election.
“We are delighted to welcome Dr Teo Ho Pin to the Tiong Seng family. Dr Teo has over his illustrious career built up a strong public service leadership track record and served directorships and C-level positions at various public and private sector companies. We are confident that his addition as independent director will help us further enhance our internal controls and corporate governance as we gear up for our next phase of growth,” says Pay Sim Tee, CEO of Tiong Seng Holdings.
“From his prior experience gained, notably as an MP and former Mayor of the North West District in Singapore, Dr Teo has developed extensive expertise and a track record in implementing Green and Smart City initiatives to create sustainable buildings and communities.
“With his strong background and network in the built environment sector, we believe that Dr Teo will additionally help to impart fresh industry insights, spur thought leadership and lend his industry connections to elevate the organisation to greater heights. We look forward to the valuable contributions Dr Teo will make at Tiong Seng,” Pay adds.
The company was previously in the news for its involvement in the bribing of a former Land Transport Authority (LTA) official in July.
See: Tritech, Tiong Seng executives charged with bribing former LTA official, Tiong Seng executives charged in court, denies bribery allegations
Shares in Tiong Seng closed 1 cent lower or 6.7% down, at 14 cents, on Oct 9.
