Wong Shui Yeung
AlsetAbout Wong Shui Yeung
Independent non-executive director of Alset Inc. (AEI) since November 2021; age 55; fellow member and practicing member of the Hong Kong Institute of Certified Public Accountants (HKICPA) with a bachelor’s degree in business administration and 25+ years of experience in accounting, auditing, corporate finance, investment, and company secretarial practice . Serves on AEI’s Audit Committee, Nominations and Corporate Governance Committee, and Compensation Committee; the Board has determined he is independent under Nasdaq Rule 5605(a)(2) and Exchange Act Rule 10A‑3 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SMI Holdings Group Limited (HK Main Board) | Independent Non-Executive Director | Apr 2017 – Dec 2020 | Governance oversight prior to delisting |
| SMI Culture & Travel Group Holdings Limited (HK Main Board) | Independent Non-Executive Director | Dec 2019 – Nov 2020 | Governance oversight |
External Roles
| Organization | Listing | Role | Tenure | Committee Roles |
|---|---|---|---|---|
| Alset International Limited | SGX Catalist | Independent Non-Executive Director | Jun 2017 – Present | Chair, Audit & Risk Management Committee; Chair, Remuneration Committee |
| HWH International Inc. (HWH) | Nasdaq | Director | Jan 2022 – Present | Not disclosed |
| Value Exchange International, Inc. (VEII) | OTC Markets | Director | Apr 2022 – Present | Not disclosed |
| DSS, Inc. | NYSE | Director | Jul 2022 – Present | Not disclosed |
| First Credit Finance Group Limited | HKSE | Director | Feb 2024 – Present | Not disclosed |
Interlocks: AEI is a controlling/major shareholder and/or related party to several of these entities (e.g., HWH, VEII), and multiple AEI directors also sit on these boards, elevating conflict risk and oversight complexity .
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent under Nasdaq and SEC rules |
| AEI Board Committees | Audit; Nominations & Corporate Governance; Compensation (each committee composed of Wong Tat Keung, Wong Shui Yeung, William Wu) |
| Committee Chairs at AEI | Not disclosed (committee composition provided; chair roles not specified) |
| Board Meetings (FY2024) | Board met 1 time; each director attended (100% attendance for Board) |
| Audit Committee Meetings (FY2024) | Met 1 time |
| Nominations & Corporate Governance Committee Meetings (FY2024) | Did not meet |
| Compensation Committee Meetings (FY2024) | Did not meet |
| Code of Conduct & Insider Trading Policy | Code of Conduct in place; Insider Trading Policy adopted Mar 19, 2025 |
Fixed Compensation
| Component | FY2024 Amount | Notes |
|---|---|---|
| Directors’ Fee (AEI) | $54,422 | Cash-only per proxy table |
| Quarterly Cash Retainer (AEI) | $5,000 per quarter (2024) | Approved increase vs. prior structure |
| Meeting Fees (historical policy) | $2,000 per Board or Committee meeting (for FY2023 policy) | Not indicated as continuing in 2024 |
| Monthly Stipend (historical policy) | $1,000 per month (set Feb 16, 2022) | Superseded by 2024 quarterly retainer |
Director compensation for non-employee directors is intended to include annual stock option grants plus quarterly cash fees, but no option grants to directors are disclosed for FY2024; the company states intent rather than executed awards .
Performance Compensation
| Element | FY2024 Status | Metrics/Terms |
|---|---|---|
| Equity awards to directors (RSU/PSU/Options) | Not disclosed for directors in FY2024 | No performance metrics tied to director pay disclosed |
| Performance Bonus (directors) | Not applicable | Director compensation presented as fees/retainers |
Other Directorships & Interlocks
| Entity | AEI Exposure | Wong’s Role | Linkage Risk |
|---|---|---|---|
| HWH International Inc. | AEI is majority shareholder; extensive financing, debt conversions, and credit facility with HWH | Director | High (control, frequent transactions) |
| Value Exchange International, Inc. (VEII) | AEI owns ~45.8% of VEII; multiple convertible loans; warrants; board overlaps including Wong | Director | High (material investments, conversion rights) |
| DSS, Inc. | AEI involved in stock purchase approvals; overlapping directorships | Director | Medium (transactions contingent on approvals) |
Expertise & Qualifications
- HKICPA fellow/practicing member; 25+ years in accounting, auditing, corporate finance, investment, and governance .
- Chairs audit and remuneration committees at Alset International Limited, indicating audit/compensation governance leadership experience .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Options/Warrants | Notes |
|---|---|---|---|---|
| Wong Shui Yeung | 0 | 0% | None (no current options/warrants outstanding for directors/officers per proxy) | No pledging disclosed |
Governance Assessment
- Independence and committee service: Independent status confirmed; sits on all three key committees (Audit, Nominating/Governance, Compensation), supporting formal oversight coverage .
- Attendance: Attended the sole board meeting in FY2024 (100% of Board meetings); committee activity was limited (Audit met once; Nominating and Compensation did not meet), reducing documented engagement opportunities in the year .
- Ownership alignment: 0 shares beneficially owned; no equity holdings or options disclosed—weak alignment with shareholder outcomes for an independent director at AEI .
- Interlocks and related-party exposure: Multiple interlocks (HWH, VEII, DSS) where AEI is a controlling shareholder or counterparty; extensive related-party transactions and financings across these entities, elevating conflict-of-interest risk and reliance on robust Audit Committee processes for approvals and recusals .
- Compensation governance: Compensation Committee retains authority and charter, but did not meet in FY2024 despite substantial executive and related-party transaction activities—weak process signal; use of independent compensation consultants not disclosed .
- Board leadership: Combined CEO/Chairman with founder holding 90.3% of shares; centralization of control increases importance of truly independent oversight and active committee operation .
RED FLAGS
- Zero personal share ownership and no disclosed director equity awards—limited skin-in-the-game .
- Committee inactivity (Nominating and Compensation did not meet in FY2024) amid numerous related-party transactions and executive compensation decisions—process robustness concerns .
- Extensive interlocks and AEI transactional ties with boards on which Wong serves (HWH, VEII, DSS), heightening conflict risks; requires vigilant recusals and audit review .
- Founder control (90.3%) with combined CEO/Chair role—board effectiveness relies heavily on independent directors’ engagement and committee functionality .