Shareholders move to oust USP chairman Li

SINGAPORE (Feb 13): Two shareholders holding 11.1% of USP Group have triggered an attempt to oust executive chairman Li Hua and executive director Raphael Tham Wai Mun.

In a letter dated Feb 10, Joshua Huang Thien En and Teng Choon Fong, owners of some 9.15 million shares, have asked the company to hold an EGM.

They want to remove Li and Tham, who own direct stakes of 3.56% and 0.72% respectively, and to also appoint one Lim Min Hai as director. Weng Huixin, a non-executive director, owns the largest stake of 18.27%

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