Camsing Healthcare Limited Responds to SGX-ST Query on Director and CEO Remuneration Disclosure

Key Points from the Official Response

• SGX-ST Query: The Singapore Exchange Securities Trading Limited (SGX-ST) raised concerns over Camsing Healthcare Limited’s annual report for FY2025 regarding compliance with Listing Rule 1207(10D), which mandates detailed disclosure of individual director and CEO remuneration, including a breakdown by component and percentage.
• Previous Disclosure Issues: The company’s FY2025 annual report had only disclosed director and CEO remuneration in broad bands of S\$250,000, lacking the detailed breakdown required.
• Company’s Correction and Clarification:
  • The company has now provided a detailed, named breakdown of remuneration for each director and the CEO for FY2025.
  • A significant correction was made: The remuneration of former Executive Director and CEO, Mr. Yeo Choon Tat, was previously understated due to a clerical error. His actual remuneration was S\$282,000, not below S\$250,000 as earlier reported.
• Breakdown of Remuneration:
  • Executive Directors and CEO:
    • Yeo Choon Tat: 100% salary, S\$282,000 (resigned on 28 February 2025)
    • Duanmu Xiaoyi: 100% salary, S\$132,000
  • Non-Executive and Independent Directors:
    • Liu Xiaohua: 100% directors’ fees, S\$30,000
    • Tan Keng Keat (Chen Qingjie): 100% directors’ fees, S\$55,000
    • Xue Congyan: 100% directors’ fees, S\$30,000
  • No directors received any stock options, share-based incentives, awards, or other long-term incentives for FY2025.
• Commitment to Future Compliance: The company has committed to providing the required detailed disclosure for each director in its FY2026 annual report, in strict accordance with Listing Rule 1207(10D).

Important Shareholder Information & Potential Share Price Impact

• Correction of CEO Remuneration: The revelation that Mr. Yeo Choon Tat, who resigned as CEO and Executive Director in February 2025, received S\$282,000 (previously reported as below S\$250,000) is a notable correction. This rectification may raise questions regarding past remuneration reporting accuracy and internal controls, which could influence investor perception and impact share value.
• Enhanced Governance and Disclosure: The company’s commitment to align its future disclosures with SGX’s enhanced transparency requirements signals improved corporate governance. This may reassure current and potential investors about the company’s compliance and transparency practices.
• Change in Leadership: The resignation of Mr. Yeo Choon Tat as CEO and Executive Director on 28 February 2025 is a significant leadership change. Leadership transitions are often closely monitored by investors for potential impacts on company strategy and performance.
• No Share-Based Compensation: It is also relevant that no directors received stock options, share-based incentives, or other long-term incentives. For shareholders, this indicates that current director remuneration is limited to fixed salaries and director fees, with no direct alignment to share price or long-term company performance.

Detailed Remuneration Table

Conclusion

Investors should be aware of the company’s remedial actions in response to SGX-ST’s compliance query, especially regarding the correction of director remuneration disclosure and the commitment to enhanced transparency moving forward. The correction of the CEO’s remuneration and the leadership change may be price-sensitive developments, warranting close monitoring of subsequent company announcements and annual reports.

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult professional advisors before making investment decisions. Neither the author nor this publication accepts any liability for losses arising from the use of this information.

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