Tye Soon Limited Announces Changes to the Board Committees
August 05, 2021 at 06:38 am EDT
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Tye Soon Limited announced that has conducted a review of the composition, function and efficacy of the committees of the Board with a view to facilitating complete discussions and streamlining decision-making. Taking into consideration the roles and responsibilities of Audit Committee and the Enterprise Risk Management Committee, the Board has approved the merging of the Audit Committee and the Enterprise Risk Management Committee to form the Audit and Risk Committee to facilitate the holistic oversight of internal controls and risk management matters. With effect from 5 August 2021, the Audit Committee and the Enterprise Risk Management Committee have been dissolved and the new merged ARC has been established. The functions and responsibilities of the dissolved Audit Committee and the Enterprise Risk Management Committee will be directly undertaken by the ARC. The Audit Committee and the Enterprise Risk Management Committee prior to such merger comprised the following Directors; Audit Committee; Tham Khuan Heng (Chairman), Chen Timothy Teck Leng Chen Teck Leng, Chua Kwee Huay Genevieve and Noel Anthony Meehan. Enterprise Risk Management Committee; David Chong Tek Yew (Chairman) and Kelvin Ong Eng Chian. The new merged ARC comprises the following Directors; Tham Khuan Heng (Chairman), Chen Timothy Teck Leng Chen Teck Leng (Member), Chua Kwee Huay Genevieve (Member) and Chua Kwee Huay Genevieve (Member). To be redesignated as chairman of the ARC with effect from 31 August 2021 (following Tham Khuan Heng stepping down as chairman of the ARC on the same day). Taking into consideration the roles and responsibilities of the Nominating Committee and the Remuneration Committee, the Board has approved the merging of the Nominating Committee and the Remuneration Committee to form the Nomination and Remuneration Committee. The members of the Nominating Committee and the Remuneration Committee (prior to such merger) and the NRC (following such merger) remain the same. The NRC comprises the following Directors; Chen Timothy Teck Leng (Chairman), Tham Khuan Heng (Member), Darryl Gregor Abotomey (Member) and Chua Kwee Huay Genevieve (Member).
Tye Soon Limited is a Singapore-based independent automotive parts distributor in Southeast Asia. The Company is primarily involved in the import and export, and distribution of automotive parts. Its main markets in Asia Pacific are served by operations in Singapore, Malaysia, Thailand, Indonesia, Hong Kong/China, South Korea and Australia. The Company distributes European, Japanese and Korean brands. Its product categories include electrical and aircon parts, transmission, chassis & body parts, engine parts and brake parts. Its products include an actuator, air mass sensor, alternator, bulbs, control unit, contact point, electrical horns, pressure regulator/switch sensors, ATF/CVT fluid, clutch cover/disc, bearing, coil spring, rubber metal parts, tensioner bearing and various others. The Company distributes a range of automotive parts for Toyota, Mitsubishi, Nissan, Honda, Mazda, Subaru, Daihatsu, Hino, Isuzu, Mitsubishi Fuso, Nissan UD, Hyundai, Kia and GM Daewoo.
TYE SOON LIMITED 
