Tan’s resignation came three months after CSE Global announced on March 5 that it was undertaking a strategic review “with the objective of maximising shareholder value”, following a request from its controlling shareholder. Jefferies Singapore was appointed as the financial advisor. In two subsequent monthly updates, CSE Global indicated that the review is still ongoing.
In most Singapore Exchange filings, board resignations follow a familiar script: calm wording, no visible disagreement and the standard “personal reasons” explanation. CSE Global (SGX:544
) broke from that pattern this week with a notably unusual resignation announcement.
Tan Chian Khong, lead independent director who has been on CSE Global’s board for seven years, stepped down on June 2. In the filing, the company states that the resignation was due to the “differences of views with regard to working with controlling shareholders”.
