V2Y Corporation Ltd Responds to SGX Queries on New Independent Director Appointment

Key Developments Investors Should Note

V2Y Corporation Ltd has released detailed responses to queries from the Singapore Exchange Regulation (SGX RegCo) regarding the recent appointment of Ms Wang Qiushi as an Independent Director. This move comes after the company’s announcement on 31 October 2025, and has significant implications for the company’s ongoing corporate governance, board composition, and future direction.

Summary of the Nomination Process and Appointment

• The company faced a period of transition due to a recent board renewal and the re-designation of Mr Lang Jinjun as Interim Executive Chairman. This situation left a critical gap in the board’s composition, requiring the urgent appointment of an additional independent director to satisfy corporate governance requirements.
• All board members were tasked to source for suitable candidates, but market response was limited due to the company’s transitional state and uncertainty over its going-concern status. Most experienced professionals preferred to wait before joining.
• Ultimately, Ms Wang Qiushi was introduced to the company by Mr Lang Jinjun. Despite the challenging situation—including the incomplete management handover and uncertainty—Ms Wang agreed to take up the appointment.

Assessment of Ms Wang’s Qualifications

• The Nominating Committee (NC) evaluated Ms Wang’s academic background and her training in accounting. While Ms Wang is early in her career, the NC highlighted her understanding of accounting principles and corporate governance fundamentals.
• Ms Wang’s exposure to financial reporting in both Mainland China and Hong Kong was cited as a valuable regional perspective that could benefit board discussions.
• Her appointment is also indicative of the company’s intent to balance experienced leadership with emerging professionals, aligning with evolving corporate governance standards.

Impact on Board Diversity and Strategic Direction

• Ms Wang’s appointment significantly improves the board’s diversity metrics:
  • Age Diversity: Standard deviation increased from 3.4 to 10.2 years.
  • Gender Diversity: Female representation improved from 0% to 25%.
  • Independence: Proportion of independent directors rose from 66% to 75%.
• The company acknowledges that more can be done to enhance board diversity and intends to review its policy further.
• Ms Wang brings a modern academic perspective and is expected to help reduce groupthink while connecting the company with younger generations of shareholders.

Compliance and Confirmation

• The board determined that Ms Wang meets all independence criteria under relevant SGX Catalist Rules and the Code of Corporate Governance.
• The company’s Sponsor, Evolve Capital Advisory Private Limited, has also reviewed and confirmed Ms Wang’s suitability for the role.

Potential Share Price Sensitivity and Shareholder Considerations

Why this matters for investors:

• The appointment and board refresh signal V2Y Corporation’s commitment to enhanced governance, diversity, and future-oriented leadership. This may restore investor confidence during a period of uncertainty and transition.
• The improved board composition, especially in terms of independence and diversity, positions the company more favorably under Singapore’s evolving corporate governance landscape, potentially attracting new investors or institutional interest.
• However, investors should note that Ms Wang’s limited professional experience could be a risk factor, and her ability to influence board deliberations or add immediate strategic value remains to be seen.
• The company remains in a transitional state, with uncertainty over its going-concern status and an incomplete management handover. These factors could affect business continuity and thus share value in the near term.

Conclusion

The appointment of Ms Wang Qiushi as an Independent Director marks a significant step in V2Y Corporation’s efforts to strengthen governance and board diversity amid a challenging period. While the move aligns with best practices and may enhance the company’s reputation, investors should closely monitor further developments, particularly regarding the company’s operational stability and future board refreshment efforts.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should do their own due diligence and consult a qualified financial adviser before making any investment decisions.

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