SingXpress appoints couple Gordon Tang and Chen Huaidan to the Board
They have thirty years of experience between them.
SingXpress Land Ltd., announced the appointments of Mr Gordon Tang and his wife, Mdm Chen Huaidan, to the Board of Directors following the close of the mandatory unconditional cash offer by Haiyi Holdings Limited, which is controlled by the couple.
Mr Tang and Madam Chen have been appointed Non-independent, Non-Executive Directors of SingXpress Land with effect on 14 January 2013. Concurrently, the Board announced the resignations of Mr Damayanth Sunimal Goonetillake as Executive Director and of Ms. Chan Yoke Keow as Non-Executive Director.
SingXpress Land announced last Friday that the close of a mandatory unconditional cash offer by Haiyi with valid acceptances of 6.96 million offer shares representing about 0.0541% of the Company.
The offer was triggered on 27 November 2012 after Haiyi converted all 80 units of cumulative non-redeemable convertible non-voting perpetual preference shares in SingXpress Land at S$1.18 million each, or a cumulative S$94.4 million.
Following the close of the mandatory offer Mr Tang and Madam Chen own approximately 62.23% of the enlarged issued share capital base of SingXpress Land of 12.87 billion shares, making them the combined single majority shareholders.
“The Directors welcome Mr Tang and Madam Chen to the Board and look forward to the contributions that they will make in helping to fulfil the vision of SingXpress Land’s investment banking approach to property development,” said Managing Director, Mr Chan Heng Fai.
“It is with great honour that Madam Chen and I accept the invitation to the Board of Directors of SingXpress Land. The Board and Management have been performing very well in executing the Company’s vision to become a leading property developer in Singapore and very much look forward to being part of this dynamic team,” Mr Tang said.
Mr. Tang is successful entrepreneur and investor with diversified investments who has significantly transformed many businesses in Asia – principally China and Singapore – and the United States.
Since 2003 he has served as the Chairman of Oregon-based American Pacific International Capital, Inc. which bridges business between China and the United States. Under his leadership, APIC has transformed into a significant investment holding company with particular strengths and track record in real estate development and ownership and management of hotels under the Haiyi brand.
Beyond providing strategic business links between China and the Pacific Northwest of the United States, APIC has acquired businesses in Hong Kong, Singapore and other parts of South East Asia.
APIC utilizes its unique access to Asian capital and market to create a portfolio of quality investments while bringing business and investment opportunities to people and communities. Leveraging on the business acumen of Mr Tang, APIC transforms business models to keep up with changes in the operating environment, while delivering healthy growth and return on investment for investors.
In 2003, Mr. Tang invested S$100 million to set up Haiyi in Singapore. Mr. Tang is the Chairman of the company and in charge of the daily operation and decision-making. Its main business includes international trade, financial investment and investment holding.
Mdm Chen has been the Director of American Pacific International Capital, Inc. since 2001. She has also been the Executive Director of Tang Dynasty Pte Ltd, Singapore, since 1995. Mdm Chen was the General Manager of Centaur International LLC, US from 2001 to 2003.
From 1990 to 1994, she was the Assistant Judicial Officer of Shantou Longhu District Court, China. In addition to the extensive management experience, Mdm Chen is a keen supporter of youth education. Mdm Chen has been a member of School Advisory Committee, West Spring Secondary School since 2003. She is a donor in support of the school’s activities.