SINGAPORE (July 16): Hong Leong Asia's CEO Tan Eng Kwee has resigned from his position as a director and CEO to “pursue other interests” on Thursday.

His resignation will take effect on August 16.

As at July 16, Tan is holding directorships in 63 other companies including Equatorial Hotel Management, HL Building Materials, Nirwana Properties, Tasek Property Holdings, and Venture Delta Limited.

In a statement, Hong Leong Asia says it thanks Tan “for his contributions” during his tenure.

It adds that it is in the process of finalising Tan’s replacement.

Shares in Hong Leong Asia closed 0.5 cents lower or 1.0% down, at 50 cents, on Thursday.