Singapore Exchange Ltd Chief Executive Officer Hsieh Fu Hua (pictured) donated 1 million of his shares in the company to an unidentified charitable organisation, according to two filings on Tuesday. -- ST PHOTO: DESMOND WEE
SINGAPORE Exchange Ltd Chief Executive Officer Hsieh Fu Hua donated 1 million of his shares in the company to an unidentified charitable organisation, according to two filings on Tuesday.
Bloomberg news reported that the transfers were made on Nov 7 and Nov 10, the filings said. Mr Hsieh, 58, said last month he plans to quit and will stay until the exchange finds a successor.
These donation would be worth S$5.2 million at Singapore Exchange's current share price of S$5.22. The stock has lost 61 per cent this year, compared with a 48 per cent decline in the local benchmark Straits Times Index.
Ms Amy Balan, a spokesman for the exchange, said Mr Hsieh declined to comment, adding that it's a 'donation in his personal capacity'.
Bloomberg said Mr Hsieh has 165,000 shares after the stock transfer, the filing showed. He also holds 800,000 shares in the name of his wife and a further 1.95 million in a trust, according to the filing.
The exchange's annual 'Bull Charge' run has raised S$12 million since 2004, Ms Balan said.
