Chan Tung Moe
AlsetAbout Chan Tung Moe
Chan Tung Moe is Co-Chief Executive Officer and Director of Alset Inc. (AEI). He has served as Co-CEO since July 2021 and joined AEI’s Board in October 2022; he is 47 years old and holds an MBA from the University of Western Ontario and master’s and bachelor’s degrees in electro-mechanical engineering and applied science from the University of British Columbia . AEI reported revenues of $19.6M in FY 2024 vs $21.0M in FY 2023 and $3.84M in FY 2022; EBITDA was negative across these years, which frames the pay-for-performance context during his tenure [FY 2022*]. He is the son of AEI’s Chairman and CEO, Chan Heng Fai, which has governance implications for independence and board oversight .
Note: * Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Alset International Limited (subsidiary) | Chief Development Officer | Aug 2020 – Mar 2021 | Led development; promoted to Co-CEO to drive growth initiatives |
| Alset International Limited (subsidiary) | Co-Chief Executive Officer | Since Mar 2021 | Executive leadership for expansion within international portfolio |
| Alset International Limited (subsidiary) | Executive Director | Since Dec 2020 | Board-level oversight; alignment with parent AEI priorities |
| Heng Fai Enterprises Ltd (now Zensun Enterprises Ltd) | Group Chief Operating Officer | Not disclosed | Ran global operations across REITs, property, hospitality, and investment trading |
| SingHaiyi Group Ltd (now SingHaiyi Group Pte. Ltd.) | Executive Director & Chief of Project Development | Not disclosed | Led property development and project execution |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DSS, Inc. (NYSE) | Director | Since Sep 2020 | Cross-board influence; AEI cites significant influence relationships with DSS |
Fixed Compensation
| Component | Amount | Period/Terms | Source |
|---|---|---|---|
| Base Salary | $293,640 | FY 2024 | |
| Cash Bonus (Actual) | $83,141 | FY 2024 | |
| Employment Agreement Base | $10,000 per month | Effective Jul 1, 2021 (Co-CEO AEI) | |
| Signing Bonus | $60,000 | On appointment (Jul 1, 2021) |
Performance Compensation
No performance-based metrics, weightings, targets, or vesting schedules were disclosed for Chan Tung Moe in AEI’s proxy. The 2025 Incentive Compensation Plan is in effect, but named executive officers did not receive equity awards in 2024 .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Sources: |
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Total beneficial ownership | 0 shares (as of Oct 22, 2025) | |
| Ownership % outstanding | 0.0% (as of Oct 22, 2025) | |
| Options/warrants held | None currently exercisable or outstanding for officers/directors | |
| Vested vs. unvested equity | Not disclosed | |
| Shares pledged/hedged | Not disclosed | |
| Ownership guidelines | Not disclosed | |
| Compliance with guidelines | Not disclosed |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Role start date | Co-CEO since July 2021 | |
| Employment Agreement | Executed Jul 1, 2021 (with AEI and subsidiary); fixed salary $10,000/month; $60,000 signing bonus | |
| Contract term length | Not disclosed | |
| Severance | Not disclosed for Chan Tung Moe | |
| Change-of-control | Not disclosed for Chan Tung Moe | |
| Non-compete / Non-solicit | Not disclosed | |
| Clawbacks | Insider trading policy adopted Mar 19, 2025; no clawback specifics disclosed |
Board Governance
| Attribute | Detail | Source |
|---|---|---|
| Board service | Director since 2022 | |
| Committee memberships | None (Audit, Compensation, Nominating committees comprise independent directors Wong Tat Keung, Wong Shui Yeung, William Wu) | |
| Independence | Not independent (family relationship to CEO; executive director) | |
| Board meeting attendance | 100% (Board held one meeting in FY 2024; each director attended) | |
| Dual-role implications | Co-CEO + Director; son of Chairman/CEO; recused from DSS share purchase board vote due to conflict |
Director Compensation
Director cash/equity fee schedule is disclosed for independent directors; Chan Tung Moe’s compensation is reported under executive compensation rather than director fees .
AEI Performance Context (for pay-for-performance assessment)
Annual
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues (USD) | $3,842,279* | $20,976,419 | $19,608,184 |
| EBITDA (USD) | -$6,126,297* | -$799,785* | -$1,270,020* |
Quarterly
| Metric | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenues (USD) | $736,271* | $5,753,529* | $705,011 | $4,539,699 | $8,610,480* | $717,805 | $716,042 | $692,890 |
| EBITDA (USD) | -$2,621,807* | -$1,514,319* | -$2,193,104* | $79,958* | $2,357,443* | -$2,975,830* | -$2,404,185* | -$1,690,598* |
Note: * Values retrieved from S&P Global.
Related Party Transactions and Governance Signals
- Family relationship: Chan Tung Moe is the son of AEI’s Chairman/CEO (Chan Heng Fai); independence concerns noted, and he recused himself from a board vote to purchase DSS shares from Chan Heng Fai/Heng Fai Holdings .
- Board composition: Chairman/CEO role combined; independent committees exist but did not meet during FY 2024 for Compensation; Audit met once; low committee activity may affect oversight rigor .
Compensation Structure Analysis
- Mix and trends: 2024 compensation for Chan Tung Moe was primarily fixed cash salary ($293,640) with a discretionary bonus ($83,141); no equity awards were granted to named executive officers in 2024, reducing direct stock-based alignment .
- Performance linkage: No disclosed quantitative performance metrics, targets, or payout curves tied to his compensation; employment terms specify fixed salary and initial sign-on bonus only .
- Equity incentives: 2025 Plan in place, but no awards to him disclosed; options/warrants not held .
Risk Indicators & Red Flags
- Independence and related-party context: Non-independent director, familial ties to controlling stockholder/CEO; involvement in cross-company boards (e.g., DSS), though recusal occurred on a conflicted transaction .
- Ownership alignment: 0 shares beneficially owned and no options/warrants; potential alignment shortfall if equity-linked compensation remains limited .
- Governance activity: Compensation Committee did not meet in FY 2024; Audit met once; potential oversight risk .
Say-on-Pay & Shareholder Feedback
No say-on-pay advisory vote percentages were disclosed in the 2025 proxy; Section 16 filing compliance was affirmed for FY 2024 .
Investment Implications
- Alignment: With 0 beneficially owned shares and no 2024 equity awards, Chan Tung Moe’s pay is largely cash-based, with limited disclosed performance linkage; this reduces immediate stock-aligned incentives versus peers that emphasize RSUs/PSUs .
- Governance risk: Dual role (Co-CEO + Director) and familial relationship to Chairman/CEO, combined with limited committee activity, increase reliance on independent directors for effective oversight; recusal on DSS transaction is positive but underscores recurring related-party exposure .
- Execution backdrop: AEI’s revenues declined in FY 2024 versus FY 2023 and EBITDA remained negative; sustaining improvements may warrant clearer performance-tied incentive structures to align compensation with turnaround targets [FY 2024 EBITDA*].
- Trading signals: Lack of insider ownership and equity vesting events reduces near-term insider selling pressure, but also removes a positive alignment signal; monitor future Form 4s and potential grants under the 2025 Plan for changes in ownership and vesting cadence .
Note: * Values retrieved from S&P Global.