Wee Peng Siong
About Wee Peng Siong
Wee Peng Siong is a director of AIFE, serving since December 2024. He is a Singapore-based real estate and golf course operator with 20+ years’ experience, currently General Manager of Riverside Golf Club (Bogor, Indonesia) since 2013, and previously GM of Keppel Land China (2010–2013); prior roles include Caesars Golf Macau and Westin Golf Resort Macau. He holds a business degree in golf complex and resort management from the San Diego Golf Academy and earned the Certified Club Manager credential in 2010.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Riverside Golf Club (Indonesia) | General Manager | 2013–present | Award-winning club operations (noted as context) |
| Keppel Land China (Keppel, SGX: BN4) | General Manager | 2010–2013 | Oversaw China real estate operations |
| Caesars Golf Macau | Management (role not specified) | Not disclosed | Not disclosed |
| Westin Golf Resort Macau | Management (role not specified) | Not disclosed | Not disclosed |
| Keppel Land | Management (role not specified) | Not disclosed | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Riverside Golf Club | General Manager | 2013–present | Private club; operational leadership |
Board Governance
- Board seat and term: Classified board; Wee is a Class II director with term expiring at the second annual general meeting. Initial service began December 2024.
- Independence status: The charter defines “Independent Director,” but filings describe Wee as “Director Nominee” and do not explicitly label him “independent.” Status not expressly disclosed.
- Committee assignments/chair roles: Audit and Compensation Committees are established per charter; specific membership for Wee is not disclosed.
- Attendance/engagement: Board and committee attendance rates are not disclosed.
- Lead Independent Director/executive sessions: Not disclosed.
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Annual cash retainer | $0 prior to business combination (no cash remuneration paid to any Director pre-BC) | Articles of Association (Art. 37.1) |
| Committee membership fees | $0 prior to business combination | Articles of Association |
| Meeting fees | $0 prior to business combination | Articles of Association |
| Other compensation at IPO closing | None; directors and officers (beyond CEO/CFO specifics) have not received and will not receive other compensation upon offering close | S-1/A |
CEO and CFO cash arrangements are separately disclosed; other directors (including Wee) did not receive additional compensation at or following the offering close.
Performance Compensation
| Metric/Instrument | Details | Source |
|---|---|---|
| RSUs/PSUs (performance stock) | Not disclosed | |
| Options | Not disclosed | |
| Performance metrics (Revenue/EBITDA/TSR/ESG) | Not disclosed | |
| Clawbacks/COC/Severance | Not disclosed |
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock |
|---|---|---|---|
| None disclosed (public companies) | — | — | — |
| Riverside Golf Club | Private | General Manager | No disclosed supplier/customer link to AIFE |
Expertise & Qualifications
- Real assets operations: 20+ years managing golf/resort and real estate assets across Indonesia, China, and Macau.
- Education: Business degree in golf complex/resort management (San Diego Golf Academy); Certified Club Manager (2010).
- Cross-border networks: Experience in China and Southeast Asia, potentially useful for target sourcing in a SPAC context.
Equity Ownership
| Holder | Security | Quantity | Ownership % of Outstanding | Notes |
|---|---|---|---|---|
| Wee Peng Siong | Class B ordinary shares | 20,000 | 0.18% (20,000 / 11,025,500) | Acquired from Sponsor immediately prior to IPO; converts 1:1 into Class A upon business combination |
| Sponsor (Aitefund Sponsor LLC) | Class A & Class B ordinary shares | 2,180,500 | 19.78% | Sponsor concentration; manager sole member disclosed |
- Vested vs. unvested: Founder Class B convert automatically 1:1 into Class A upon consummation of a business combination; vesting schedules not applicable/disclosed.
- Options/derivatives: None disclosed for Wee.
- Pledging/hedging: Not disclosed.
- Ownership guidelines: Not disclosed.
Insider Trades
| Filing/Date | Type | Security | Quantity | Ownership Form |
|---|---|---|---|---|
| Form 3 (12/06/2024) | Initial Beneficial Ownership | Class B ordinary shares | 20,000 | Direct |
Governance Assessment
- Alignment: $0 cash retainer pre-business combination and founder-share exposure support equity alignment typical of SPAC directors; however, sponsor-controlled founder shares can incentivize deal completion over selectivity. Structure and founder-share conversion are disclosed.
- Conflicts/potential related-party exposure: Management and directors have other fiduciary/contractual obligations; opportunities may need to be presented to other entities first, creating potential conflicts of interest. The company will not consummate an affiliated transaction without an independent fairness opinion and approval of disinterested independent directors.
- Time commitment risk: Filings caution that officers/directors allocate limited time and collective SPAC experience “is not significant,” potentially affecting board bandwidth and effectiveness during target search and negotiation.
- Cross-border enforcement risk (RED FLAG): Wee is a Singapore resident; sponsor’s sole member is based in Cambodia. Filings warn investors may face difficulty enforcing U.S. securities laws against non-U.S.-based individuals, which can undermine accountability.
- Committee/attendance transparency: Specific committee assignments, chair roles, and attendance rates for Wee are not disclosed, limiting assessment of oversight depth.
- Ownership concentration: Sponsor holds ~19.78% of shares; while standard in SPACs, it concentrates influence and underscores the need for robust independent oversight.
Company-level governance context: The chartered requirement to establish Audit and Compensation Committees and to review related-party transactions via the Audit Committee is positive; however, lack of disclosed membership/attendance limits evaluability for Wee specifically.
Notable Disclosures
- Board classification and term structure (Class II for Wee).
- No director cash compensation pre-business combination; directors/officers (beyond CEO/CFO specifics) did not receive other compensation at offering close.
- Founder shares and 1:1 conversion mechanics.
- Conflict controls for affiliated transactions (independent fairness opinion + disinterested independent director approval).
- Cross-border enforcement and fiduciary duty conflicts disclosures.
Items Not Disclosed (Skipped)
- Committee assignments, chair roles, board meeting attendance rates, director performance metrics/targets, options/RSUs/PSUs, clawbacks/COC/severance, say-on-pay results, ownership guidelines compliance.