Monday, September 11, 2006

Henry Sy quitting Keppel board


MALL TYCOON Henry Sy Sr. is resigning from his directorship at Keppel Philippine Holdings Corp., an affiliate of Singaporean conglomerate, citing "work pressure in the SM Group of Companies."

The board of Keppel Philippine Holdings has yet to act on Sy's resignation, which was tendered on Sept. 5.

In a letter to Keppel Philippine Holdings chairman Teo Soon Hoe, Sy has recommended SM Development Corp. president Rogelio Cabuñag to replace him on the board.

Sy's SM group owns about nine percent of Keppel Philippine Holdings. He has been a director since 1989.

Sy is also a director of Keppel Philippines Marine Inc., Subic Shipyard & Engineering Inc., Keppel Philippines Properties Inc., and SM Keppel Land Inc

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