Siow Chee Keong stepped down as SunVic Chemical Holdings' lead independent director
He is founder and principal of JF Virtus.
Mr. Siow, 62, was a director of the company since 2006 and is in view that it was an appropriate time to step down for board renewal.
Other reasons for the cessation were: the long outstanding action by the PRC Management to obtain shareholders' approval to rectify non-mandated interested person transactions, the outstanding action by the PRC Management to obtain shareholders' approval for the disposal of Jiangsu Jurong Petrochemicals, and the lack of a remedial plan by the PRC Management to adequately eliminate and reduce bank guarantees to interested persons.