SINGAPORE (May 20): Genting Singapore independent director Koh Seow Chuan has been a board member since 2008. However, judging from his past behaviour, the retired renowned architect prefers not to hold shares in the company. According to a May 13 filing with the stock exchange, Koh sold all his 125,000 shares on May 10. The shares were awarded to him less than three months ago as part of the company’s performance share scheme for its board of directors and employees.
Koh sold the shares on the open market for $116,250, which translates into an average price of 93 cents a share. As he also received a dividend of two cents a share (Genting shares went ex-dividend on May 2), his total gain was 95 cents apiece. Koh received the shares on Feb 22. Based on the day’s market closing price of $1.07, they were valued at $133,750.
Koh is a leading name in the local architectural circle and founder of DP Architects. His masterpieces include the iconic Esplanade — Theatres on the Bay. He retired from the firm in 2004 and was first appointed to Genting’s board on May 12, 2008.
