At the meeting was the SkyWorld Development Bhd Board of Directors.
KUALA LUMPUR: SkyWorld Development Bhd (SkyWorld), an urban property developer principally involved in investment holding, provision of management services to its subsidiaries and property development, has successfully concluded its 2024 annual general meeting (AGM) and extraordinary general meeting (EGM).
All ordinary resolutions outlined in the Notice of AGM were passed by the shareholders. The shareholders also approved the proposed allocation of offer to SkyWorld chief executive officer Lee Chee Seng, as set out in the Notice of EGM, pursuant to the long-term incentive plan, which was approved in June 2024.
SkyWorld founder and non-independent executive chairman Datuk Seri Ng Thien Phing commented: “The AGM was a resounding success, with all resolutions, including the Employee Share Option Scheme grant for Mr. Lee, passed unanimously. This demonstrates strong alignment between shareholders and the Board regarding the Group's governance, strategy and financial performance. In extending our gratitude to the shareholders for their unwavering support, the Board is committed to continue delivering value and growth. The grant is a well-deserved recognition of Mr Lee's contributions.”
Lee added, “Our target of RM4.6 billion launches from 2023 to 2026 as committed during the IPO exercise remains unchanged. We are actively sourcing for landbank, not only in Klang Valley but also within the northern region. Whereas in Vietnam, we see greater potential, driven by its economic growth. We see the supply-demand imbalance problem; hence our focus is to build mid-range products to bridge the demand gap. Overall, at SkyWorld, we emphasise on achieving a balance between affordability and livability.”
Also at the AGM and EGM were non-independent executive director Datuk Lam Soo Keong @ Low Soo Keong and independent non-executive directors Chan Seng Fatt, Ong Soo Chan, Phang Sze Fui and Zalinah A Hamid.
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