Vong John Hing
About Vong John Hing
Dr. Vong John Hing (age 77) is a former independent director of Agape ATP Corporation who transitioned to executive director and Deputy Chairman on November 15, 2024; he initially joined the board on October 13, 2023 . He has over 44 years of fintech and education experience, including roles with the United Nations, World Bank, Asian Development Bank, and senior banking positions in Asia . He holds a BA in economics (Birmingham City University), an MBA (University of Bradford), and a PhD in MIS/business intelligence (University of Bradford), and is a member of CPA Australia . As of December 31, 2024, he had no beneficial ownership of ATPC common stock .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| HSBC Holdings plc | Senior executive | May 1978 – Aug 1993 | Senior banking leadership across Australia and Asia |
| MIT–Nanyang Fellows Program (NTU) | Regional director–lecturer | 1994 – 1998 | Leadership in executive education programs |
| Deloitte Australia | Team leader | Feb 1999 – Feb 2001 | Consulting leadership |
| PAGF – DFAT (Australia) | Senior consultant (Philippines) | 2002 | Government advisory |
| Sacombank (Vietnam) | Deputy CEO | Oct 2008 – Oct 2011 | Bank executive management |
| James Cook University (Singapore) | Associate professor | Feb 2012 – Jun 2013 | Academic role in Singapore |
| Singapore Management University (Fintech Academy) | Foundation director | Jun 2013 – Dec 2014 | Founded Fintech Academy |
| National University of Singapore | Professor | May 2015 – Apr 2017 | Academic appointment |
| World Bank Group | Senior technical consultant | Sep 2006 – Jun 2021 | Long-term development advisory |
| Asian Development Bank | Senior technical specialist | Jan 2019 – Feb 2022 | Regional development advisory |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| ClimateWorks Australia | Lead, Sustainable Finance | Sep 2021 | Sustainability and finance leadership |
| Regional Bank (unnamed) | Non‑executive independent council member | Jun 2013 | Governance advisory role |
| United Nations | Senior technical specialist | May 2003 | International development technical specialist |
Board Governance
- Independence: The board affirmatively determined Dr. Vong met Nasdaq independence requirements while serving as an independent director .
- Service/tenure: Independent director from October 13, 2023; appointed executive director and Deputy Chairman November 15, 2024 (no longer independent thereafter) .
- Attendance: In 2023, the board met 3 times; Audit Committee 0, Remuneration 1, Nominating & Corporate Governance 1, and no director attended fewer than 75% of aggregate meetings of the board and committees of which they were a member .
- Committee assignments (as of 2024 proxy): Member of Audit and Nominating & Governance; Chair of Compensation Committee .
| Committee | Membership | Chair? | Source |
|---|---|---|---|
| Audit | Member | No | |
| Compensation | Member | Yes | |
| Nominating & Corporate Governance | Member | No |
Note: On Nov 15, 2024, Dr. Vong became an executive director and Deputy Chairman; independence status changed, which typically affects committee eligibility, but no updated committee roster was disclosed in the filings reviewed .
Fixed Compensation
| Component | Amount | Period/Terms | Source |
|---|---|---|---|
| Independent director fee | $5,400 per quarter | Paid as quarterly fee while independent director | |
| Independent director fee (total) | $23,400 | Year ended Dec 31, 2024 | |
| Executive director salary | $3,000 per month | Effective Nov 15, 2024; paid monthly |
Performance Compensation
- No stock options or performance-based equity awards were disclosed for Dr. Vong; ATPC has not granted stock options since incorporation and did not disclose performance-based awards for him .
- ATPC disclosed an equity component for another executive director (not for Dr. Vong), indicating the company has used stock-based compensation selectively (e.g., $60,000 per annum in common stock for Wilfrendo Cortizo) .
Other Directorships & Interlocks
| Company/Institution | Role | Overlap/Interlock | Source |
|---|---|---|---|
| Regional Bank (unnamed) | Non‑executive independent council member | External; no interlocks disclosed with ATPC suppliers/customers | |
| ClimateWorks Australia | Lead, Sustainable Finance | External; no interlocks disclosed with ATPC suppliers/customers | |
| United Nations | Senior technical specialist | External; no interlocks disclosed with ATPC suppliers/customers |
Related‑party transactions: Item 13 discloses a related‑party acquisition involving CEO Dr. How (2020); no related‑party transactions are disclosed involving Dr. Vong .
Expertise & Qualifications
- Degrees: BA (Economics, Birmingham City University), MBA (Economics strategy & finance, University of Bradford), PhD (MIS/business intelligence, University of Bradford) .
- Professional: Member of CPA Australia; longstanding technical roles with UN, World Bank, and ADB; leadership in banking and fintech education .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Pledged/Hedged | Source |
|---|---|---|---|---|
| Vong John Hing | 0 | 0.0% | None disclosed |
As of Dec 31, 2024, ATPC had 3,989,056 shares outstanding; the company had no equity compensation plan in place and did not disclose director stock ownership guidelines .
Governance Assessment
- Independence shift RED FLAG: Dr. Vong’s move from independent director and Compensation Committee Chair to executive director/Deputy Chairman on Nov 15, 2024 reduces independent oversight on pay and strategy; independence status changed upon appointment .
- Attendance/process RED FLAG: The Audit Committee had zero meetings in 2023, which can indicate limited formal financial oversight; board and other committees did meet and no director fell below 75% attendance .
- Alignment RED FLAG: Dr. Vong held no ATPC shares as of Dec 31, 2024, suggesting limited personal equity alignment during and after his transition to executive director .
- Controls risk context: Management disclosed material weaknesses in internal control over financial reporting for FY2024 (insufficient accounting personnel; lack of internal audit function), increasing reliance on board committees for remediation and oversight .
- Dilution context: The board sought and received shareholder approval in Feb 2025 to increase authorized shares to 500,000,000 and issue 46,000,000 shares at $0.50; this concentrated new ownership and significantly diluted existing holders, elevating governance scrutiny of board decision‑making (company‑level risk context) .
Notes and Supporting Disclosures
- Board composition and committee charters are available via ATPC’s investor relations site per proxy disclosures; Audit Committee oversight includes related‑party transaction review .
- Executive compensation summary indicates no options granted since incorporation; director fees and executive salaries were disclosed with specific amounts and effective dates .
- Beneficial ownership table confirms zero shares for Dr. Vong as of the measurement date .
- Special meeting proxy and subsequent 10‑K provide details on authorized share increase and 46,000,000 share issuance at $0.50/subscription .
- Age and current titles for Dr. Vong are listed in Item 10 of the 10‑K .
- Biographical details (education, roles) are drawn from the 2024 DEF 14A .
Photographic and participation evidence: An April 3, 2025 press release (8‑K exhibit) shows Dr. Vong as Deputy Chairman present at execution of large fuel supply agreements via ATPC Green Energy; while strategic, this does not alter governance disclosures above .