Joanne Wong Hiu Pan
AlsetAbout Joanne Wong Hiu Pan
Joanne Wong Hiu Pan (age 49) has served as an independent director of Alset Inc. (AEI) since October 2022. She is Director and Responsible Officer of BMI Funds Management Limited (Hong Kong), a Director at A-link Services Limited, and Senior Consultant to Global Intelligence Trust; she holds a Bachelor’s degree from the Chinese University of Hong Kong (1999) . The Board has affirmatively determined her to be independent under Nasdaq rules . Board meeting attendance was 100% in FY2023 (three meetings) and FY2024 (one meeting) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alset Inc. (AEI) | Independent Director | Director since Oct 2022 | No AEI committee assignments disclosed |
| BMI Funds Management Limited (HK) | Director & Responsible Officer | Not disclosed (current) | Financial advisory responsibilities |
| A-link Services Limited | Director | Not disclosed (current) | Consulting solutions across functions |
| Global Intelligence Trust | Senior Consultant | Not disclosed (current) | Trust services for individuals/corporates |
External Roles
| Company | Listing | Role | Start | Committee Roles |
|---|---|---|---|---|
| DSS, Inc. | NYSE American | Director | Jul 2022 | Not disclosed; AEI discloses DSS compensates her for board service |
Board Governance
- Independence: AEI Board determined Wong, along with other directors, is independent per Nasdaq Rule 5605(a)(2) and Exchange Act Rule 10A‑3 .
- Committee assignments: AEI’s Audit, Nominations & Corporate Governance, and Compensation Committees are currently composed of Wong Tat Keung, Wong Shui Yeung, and William Wu; Joanne Wong is not listed as a member on any AEI Board committee .
- Board/committee activity: Board met once in FY2024 (all directors attended) and three times in FY2023 (all attended) . Audit met once in FY2024 vs. three times FY2023 ; Nominations did not meet in FY2024 vs. one meeting FY2023 ; Compensation did not meet in FY2024 vs. one meeting FY2023 .
- Governance policies: Insider Trading Policy adopted Mar 19, 2025; Code of Conduct overseen by Audit Committee .
Fixed Compensation
| Year | Directors’ Cash Fees (AEI) | Notes |
|---|---|---|
| 2024 | $22,000 | AEI increased director fees to $5,000 per quarter in 2024; total shows cash-only compensation for Joanne . |
| 2023 | $18,000 | Cash-only compensation; AEI policy included $1,000 per month plus $2,000 per meeting for FY2023 . |
Performance Compensation
| Component | 2023 | 2024 | Vesting/Performance Metrics | Notes |
|---|---|---|---|---|
| Equity awards (RSUs/PSUs/Options) | Not disclosed for Joanne | Not disclosed for Joanne | Not disclosed | AEI historically did not issue options under 2018 plan; 2025 plan exists, but director grants to Joanne not disclosed; CEO received 1,000,000 restricted shares in Apr 2025 . |
| Bonus/Performance cash | None disclosed | None disclosed | Not disclosed | Director line items show only cash fees; no performance-linked director compensation for Joanne . |
No director-specific performance metrics, vesting schedules, clawbacks, severance, or change-of-control provisions are disclosed for Joanne Wong .
Other Directorships & Interlocks
| Entity | Relationship to AEI | Joanne’s Role | Potential Interlock/Conflict |
|---|---|---|---|
| DSS, Inc. | Portfolio/affiliate exposure; AEI/affiliates hold DSS and transact with DSS | Director since Jul 2022; compensated by DSS | Multiple AEI insiders also on DSS board; AEI engaged in securities purchases/transactions with DSS, requiring recusal by certain insiders; oversight of related-party transactions routed to AEI Audit Committee . |
Expertise & Qualifications
- Strategic, turnaround, regulatory experience across industries; current financial advisory responsibilities in Hong Kong .
- Education: B.Sc., Chinese University of Hong Kong, 1999 .
- Independence affirmed by AEI Board .
Equity Ownership
| As-of Date | Shares Beneficially Owned | % of Outstanding | Options/Warrants | Pledged/Hedged |
|---|---|---|---|---|
| Oct 22, 2025 | 0 | 0.0% | None disclosed | Not disclosed . |
| Oct 8, 2024 | 0 | 0.0% | None disclosed | Not disclosed . |
AEI notes neither stockholder nor directors/officers listed own AEI stock options or warrants at present; no director ownership guidelines are disclosed .
Governance Assessment
- Board role and engagement: Joanne is independent with full board attendance in FY2023–FY2024, but lacks AEI committee assignments, limiting direct involvement in audit/compensation/nominations oversight .
- Committee activity signal: Audit/Nominating/Compensation committees did not meet in FY2024 (except Audit met once); the drop from FY2023 may indicate lower formal oversight cadence in 2024, which investors should monitor .
- Ownership alignment: 0 AEI shares and no disclosed equity awards or options reduce “skin-in-the-game” alignment for Joanne relative to best-practice director ownership norms .
- Interlocks/related-party exposure: Joanne serves on DSS’s board where AEI and affiliates have significant shareholdings and transactions; AEI discloses recusal protocols and Audit Committee review for related-party dealings—investors should watch for transaction terms and committee independence .
- Control risk context: AEI’s Chair/CEO and largest shareholder holds 90.3% of AEI shares (as of Oct 22, 2025), concentrating control; while Joanne is independent, governance effectiveness depends on committee activity and robust related-party oversight .
RED FLAGS
- Committee non-activity in FY2024 (Nominating/Compensation did not meet; Audit met once) reduces documented oversight cadence .
- Significant related-party transactions across affiliates (DSS, HWH, VEII, SHRG) with overlapping directors; reliance on Audit Committee approvals and recusals requires close investor scrutiny .
- Zero AEI share ownership by Joanne and absence of disclosed equity awards suggests low ownership alignment .