PETALING JAYA: Hong Kong Stock Exchange (HKEX) listed Value Partners Group Ltd in a recent boardroom revamp has appointed Lin Xianghong as co-chairman of the board, alongside its founder Datuk Seri Cheah Cheng Hye.
The boardroom revamp happened following changes in major shareholding after the entry of China-based brokerage GF Securities Co.
The changes, which were effective from Aug 23, also see Louis So Chun Ki ceasing to be its co-chairman while he still continues to serve as executive director and co-chief investment officer of the asset management company.
Lin and Li Qian are also appointed as its executive directors while Norman Ho resigned as executive director in order to focus on his current role as senior investment director, the company said in a HKEX filing last week.
Lin was vice-chairman of GF Securities Co’s unit GF Holdings (Hong Kong) Corp Ltd prior to this.
In a statement, Cheah said he welcomes the board changes.
“I am very pleased to welcome Lin and Li to the Value Partners’ board. Lin’s wealth of experience in the financial industry across both Hong Kong and mainland China is going to add significant value to the group’s business strategy and long-term development,” Cheah said.
“Leveraging her long-term experience at the GF Group, she could also help strengthen and broaden the strategic collaboration between Value Partners and GF Group to enhance our clients’ reach through GF’s extensive network in mainland China, especially in the Greater Bay Area,” he added.
He also said he looks forward to working in partnership with Lin as the group’s co-chairmen.
GF Securities Co, Ltd is listed on the Main Board of the HKEX and the Shenzhen Stock Exchange.
But Bloomberg yesterday reported that Cheah plans to give up his co-chairman role.
Bloomberg reported a person familiar with the matter as saying that Cheah had notified selected board members and senior management of his decision.
He will remain on the board, the report said.
