Latest news with #PeterSeah
Independent Singapore
2 days ago
- Business
- Independent Singapore
SIA chairman Peter Seah redesignated as non-independent and non-executive director after AGM
Photo: Depositphotos/Wirestock SINGAPORE: Singapore Airlines (SIA) has redesignated Peter Seah Lim Huat as the company's non-independent and non-executive director, following the group's 53rd annual general meeting (AGM) on Friday (July 25). Following his redesignation, Mr Seah stepped down as chairman but remains a member of the board's compensation and industrial relations committee, as well as the board nominating committee, according to the company's bourse filing on Friday. Mr Seah was a banker for more than 30 years before retiring as vice chairman and CEO of the former Overseas Union Bank in 2001. He currently serves as chairman and director of DBS Group Holdings. He is also a director of the GIC board and STT Communications' deputy chairman. In a separate bourse filing, the company announced the appointment of Goh Swee Chen as lead independent director and chairperson of the board nominating committee. 'Given Ms Goh's skills, experience, knowledge, and independence, Ms Goh possesses the requisite competencies to assume the role of a lead independent director,' the filing stated. She will remain a member of the board audit committee and the customer experience, technology and sustainability committee. Ms Goh has been a director of SIA since January 1, 2019, and was previously a director at CapitaLand Investment Limited and CapitaLand Limited. She was also employed by the Shell group before retiring in 2019. Meanwhile, Jeanette Wong Kai Yuan has been appointed as chairperson of SIA's board compensation and industrial relations committee, as reported by The Edge Singapore . /TISG Read also: SIA CEO's annual pay fell 13.5% to S$7m despite record profit Featured image by Depositphotos (for illustration purposes only) () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Business Times
4 days ago
- Business
- Business Times
SIA chairman Peter Seah redesignated as non-independent director after AGM
[SINGAPORE] National carrier Singapore Airlines' (SIA) chairman Peter Seah was redesignated as a non-independent director at the conclusion of its uneventful 53rd annual general meeting (AGM) on Friday (Jul 25). The chairman's re-election was one of the nine resolutions tabled for the proceedings at Marina Bay Sands Expo and Convention Centre. It garnered the lowest votes among all the resolutions, at 87.04 per cent, in favour of retaining him. He was first appointed to the board as director in September 2015, and his role was elevated to chairman in January 2017. Thus, Seah was redesignated as non-independent in accordance with the Singapore Exchange rule which stipulates that a director of a listed company will not be independent If he or she has served for an aggregate period of more than nine years. Presently, Seah also sits on the board of directors at DBS . A career banker for more than 30 years previously, the 78-year-old was with the former Overseas Union Bank between 1977 and 2001, retiring as vice-chairman and chief executive officer. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The hundreds of shareholders present at the SIA AGM, meanwhile, did not have a single question for the flag carrier's board and senior management. They cleared all nine resolutions, including the proposed final dividend of S$0.30 per share for FY2025 ended March, at the proceedings, which lasted about an hour. The group posted a record full-year net profit of S$2.8 billion for FY2025 because of a one-off non-cash accounting gain of S$1.1 billion from the Air India-Vistara merger. The corporate action in 2024 led to SIA holding a 25.1 per cent share in the merged entity. Vistara was a 49 per cent associated company of SIA, before the merger took place. The gain aside, earnings for FY2025 would have been 37.2 per cent lower at S$1.7 billion for SIA. The counter rose 0.3 per cent or S$0.02 to close on Friday at S$7.57.
Business Times
13-06-2025
- Business
- Business Times
Singapore Airlines tumbles 2.1% after Air India plane crash
[SINGAPORE] Shares of Singapore Airlines (SIA) dived on Friday (Jun 13) morning after an Air India plane bound for London crashed on Thursday. SIA holds a 25.1 per cent stake in the Indian flag carrier. At around 9 am when the market opened, SIA shares hit a month-to-date low of S$6.88, down 2.1 per cent or S$0.15 from Thursday's closing price of S$7.03, with around 723,200 shares transacted. By 9.17 am, the counter rose to S$6.92, still down 1.6 per cent or S$0.11, with 1.8 million shares changing hands. On Thursday, an Air India Boeing 787-8 Dreamliner headed for London's Gatwick airport crashed into a medical college hostel in the city of Ahmedabad, Gujarat, killing more than 240 people. SIA holds a 25.1 per cent stake in the Indian airline following a merger of its Indian full-service airline Vistara – joint venture with Mumbai-headquartered Tata Sons – into India's national carrier. In SIA's annual report for FY2023 and FY2024, the group's chairman Peter Seah said that the merger of Air India and Vistara was underway, adding that SIA was working with Tata to secure necessary approvals. India's national newspaper The Hindu reported that Air India shored up its revenue to a record level of 610 million rupees (S$9.1 million) in the fiscal year 2025 and clocked a profit excluding, exceptional items, in the second half.
