Singapore and Hong Kong, 27 February 2024 - China Everbright Water Limited (“Everbright Water” or the “Company”; stock codes: U9E.SG and 1857.HK), an environmental protection company focusing on water environment management, today announced changes to the board of directors (the “Directors”) of the Company (the “Board”). Mr. Luan Zusheng, replacing Mr. Hu Yanguo, will be appointed as the chairman of the Board and will join the Board as the non-executive Director. Mr. Ng Joo Hee Peter and Mr. Soh Kok Leong will be appointed as independent non-executive Directors. The above-mentioned changes will take effect from 18 March 2024. Additionally, Mr. Lim Yu Neng Paul and Ms. Cheng Fong Yee will retire as independent non-executive Directors at the Company’s 2024 annual general meeting and will not stand for re-election.
Mr. Luan Zusheng is currently the executive director and the chief executive officer of China Everbright Environment Group Limited (“Everbright Environment”), the indirect controlling shareholder of the Company, and a director of Sun Life Everbright Life Insurance Co., Ltd. He was a director of Everbright Financial Holding Asset Management Co., Ltd. Prior to joining Everbright Environment, Mr. Luan was the director of the office and the officer for deepening reform of the leading group office for the comprehensive deepening reform, and the secretary general of the office of China Everbright Group Ltd., the indirect controlling shareholder of the Company, the president of Shijiazhuang and Wuxi Branches, the vice president and risk director of Shenzhen Branch, the assistant to the president and risk director of Fuzhou Branch, of China Everbright Bank Company Limited (“Everbright Bank”), the general manager of small and medium enterprises business department and the general manager of the microfinance business department of Everbright Bank. Mr. Luan holds a Master’s Degree in Accounting from the Department of Accounting of Nankai University and a Doctorate degree in Political Economics from the Department of Economics of Nankai University. He is also a Certified Intermediate Accountant in the People’s Republic of China.
Mr. Ng Joo Hee Peter is currently the non-executive chairman of Willowmore Pte. Ltd., a start-up technology company. He was the Chief Executive of Singapore’s National Water Agency, Public Utilities Board. Prior to leading Public Utilities Board, Mr. Ng had served, variously, as the Commissioner of Police and the Commissioner of Prisons in Singapore. He holds a Master in Public Administration degree from Harvard University, the United States; a Master of Business Administration (Accountancy) degree from the Nanyang Technological University, Singapore; and a Master of Arts degree and a Bachelor of Arts (Engineering Science and Economics) degree from the University of Oxford, the United Kingdom. Mr. Ng has also completed the Advanced Management Programme at the Harvard Business School, the United States.
Mr. Soh Kok Leong has extensive experience in accounting, auditing and capital markets. He was with PricewaterhouseCoopers LLP (“PwC”) for over 35 years, with more than 23 years of experience as Assurance Partner. He retired from PwC in June 2023. During his tenure with PwC, he led the audits of various large SGX-listed companies, Chinese state-owned enterprises and multinational companies. Apart from his professional experience, Mr. Soh has been active in various charities, non-profit organisations and professional bodies in Singapore. He is a board member and chairman of the audit committee of Methodist Welfare Services and also a board member and Honorary Treasurer of Netball Singapore. Mr. Soh holds a Bachelor of Accountancy degree from the National University of Singapore. He is a Fellow of the Institute of Singapore Chartered Accountants and a Fellow of Chartered Accountants Australia and New Zealand.
Upon the Board's announcement of the appointment, Mr. Luan Zusheng, chief executive officer of Everbright Environment, said: “I would like to express my sincere appreciation to Mr. Hu Yanguo on behalf of Everbright Water for his significant contributions to the Company. During his tenure, Mr. Hu Yanguo, with dedication and diligence, led the Company to proactively carry out strategic transformations and deploy ‘water-related’ businesses. As a result, the Company achieved high-quality and sustainable development. As Everbright Water is in a critical period for strategic transformation and high-quality development, I am honoured to take up the responsibility of being the chairman of the Board. I would also like to welcome Mr. Ng Joo Hee Peter and Mr. Soh Kok Leong for joining the Board, on behalf of the Company. Moving forward, I will work diligently together with all the Directors, the management team and staff, utilising everyone’s strengths to achieve success. By combining wisdom and strength, with dedication to the ‘water-related’ business areas, Everbright Water will strive to build a new development paradigm and generate sustainable value and return to its shareholders and other stakeholders.”
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