Natural Cool appoints directors to new roles

Natural Cool Holdings, the air-conditioning firm that installed a new board in February after a shareholder revolt, said it has appointed two directors to take on the roles of adviser and chief corporate officer respectively.

Their existing roles will remain unchanged.

Independent non-executive chairman Goh Teck Sia, 67, a retired police deputy superintendent, will have specific, ad-hoc responsibilities to advise the company on law enforcement matters.

These matters can include an internal investigation review and other commercial security matters of the group.

Natural Cool said in February that there could be irregular transactions and activities at some subsidiaries in its paint division.

Mr Goh will be paid an advisory fee. His appointment is for an initial period of three months with a possibility for extension depending on the company's requirements.

The nominating committee said Mr Goh remains independent after considering, among other things, the ad-hoc nature of his responsibilities.

Meanwhile, executive director Wong Leon Keat, 42, a former audit and advisory firm partner, has been appointed chief corporate officer.

Mr Wong will be responsible for finance, human resources, investor relations and business development, Natural Cool said.

He is the spouse of Edi Ng, one of two shareholders behind a second, successful attempt to oust the company's board.

His direct and deemed interest in the company is 9.26 per cent.

Natural Cool ended Tuesday trading up half a cent at S$0.125.

This article was first published on March 22, 2017.
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