Former Xpress chief operating officer 'does not have advisory role'

Mainboard-listed Xpress Holdings said yesterday that its former chief operating officer does not have an advisory role in the company.

Mr Fong Kah Kuen, the founder of the printing firm, had stepped down from his role assisting the chief executive to oversee the printing operations on March 31.

Since then, he "has ceased to have any role, including (an) advisory role, in the company", said Xpress Holdings in a Singapore Exchange filing yesterday.

Xpress Holdings added that what Mr Fong had said in an earlier interview about taking on a six-month advisory role in the company after stepping down were "expressions of his personal views only".

It noted that Mr Fong had informed the company that as at March 8, he holds a direct interest of 77,000 shares and a deemed interest of 110,310 shares in the company. This represents a direct interest of 0.08 per cent and an indirect interest of 0.11 per cent.

Mr Fong had stepped down from his role assisting the chief executive to oversee the printing operations on March 31. Since then, he "has ceased to have any role, including (an) advisory role, in the company", said Xpress Holdings in a Singapore Exchange filing yesterday.

The company said it has not been notified of any changes in Mr Fong's shareholding and he is not a substantial shareholder in the firm.

Xpress Holdings also clarified that its executive chairman Ma Weidong, who holds 31 per cent direct interest in the company, had acquired the stakes through shares placement.

Xpress shares closed 0.5 cent or 0.96 per cent higher at 52.5 cents yesterday.

A version of this article appeared in the print edition of The Straits Times on May 04, 2016, with the headline 'Former Xpress chief operating officer 'does not have advisory role''. Print Edition | Subscribe