Lim Sheng Hon Danny
About Lim Sheng Hon Danny
Lim Sheng Hon Danny, age 33, is Chief Operating Officer (appointed February 2024) and Chief Strategy Officer of HWH, and joined HWH’s Board in October 2025; he holds a Bachelor’s degree (Honors) in Business, Banking & Finance from Nanyang Technological University (Singapore) . Company performance under the current regime: FY 2024 revenue was $1,253,577 vs. $830,519 in FY 2023, while net loss widened to $(2,606,504) from $(1,076,662) . As of September 22, 2025, Lim beneficially owned 0 shares (0.00%) of HWH; likewise 0 shares at October 15, 2024 (0.00%), indicating minimal direct alignment via equity ownership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| HWH International Inc. | Chief Operating Officer; Chief Strategy Officer | 2024–present | Oversees business development, M&A, corporate restructuring, strategy execution; liaison with partners/subsidiaries |
| HWH International Inc. | Director | Oct 2025–present | Management voice on board; not independent under Nasdaq rules |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Alset International Limited (SGX: 40V) | Senior Vice President, Business Development; Executive Director | 2020–present | Business development, corporate strategy across Alset group |
| Alset Inc. (Nasdaq: AEI) | Director | Oct 2022–present | Parent/majority shareholder of HWH; governance interlock |
| DSS, Inc. (NYSE) | Director | Oct 2023–present | Cross-company oversight; finance/capital markets exposure |
| Value Exchange International, Inc. (OTC) | Director | Dec 2023–present | Broader network; potential ecosystem synergies |
Fixed Compensation
| Component | FY 2024 | Notes |
|---|---|---|
| Base Salary | $0 | “None of our executive officers has received any cash compensation” |
| Target Bonus % | Not disclosed | No executive bonus program disclosed |
| Actual Bonus Paid | $0 | No bonuses disclosed |
Performance Compensation
| Instrument | Grant Date | Amount/Shares | Vesting | Performance Metrics | Status |
|---|---|---|---|---|---|
| Stock Awards (RSUs/PSUs) | N/A | N/A | N/A | N/A | Company has not adopted a Stock Awards Plan; intends to do so in future |
| Options | N/A | N/A | N/A | N/A | “No grants of stock options through the date of this report”; none outstanding for directors/officers |
The Compensation Committee met one time in FY 2024 and is authorized to engage independent consultants; no specific performance metric framework (revenue, EBITDA, TSR, ESG) disclosed for executives .
Equity Ownership & Alignment
| Date (Record) | Shares Beneficially Owned | % of Outstanding | Vested vs. Unvested | Options (Exercisable/Unexercisable) | Pledging/Hedging |
|---|---|---|---|---|---|
| Oct 15, 2024 | 0 | 0.00% (22,257,838 shares outstanding) | N/A | None | Insider Trading Policy prohibits short sales; trading windows and suggested preclearance; pledges must be notified (no explicit pledging ban disclosed) |
| Sep 22, 2025 | 0 | 0.00% (6,476,400 shares outstanding) | N/A | None | Same policy as above |
Stock ownership guidelines for executives/directors are not disclosed; there are no equity compensation plans authorized as of the latest filings .
Employment Terms
- Start date and current role: Appointed COO in February 2024; also serves as Chief Strategy Officer .
- Severance/change-of-control: Company states it is not party to agreements providing benefits upon termination of employment; no severance multiples or CoC terms disclosed .
- Clawbacks/gross-ups: Not disclosed.
- Indemnification: Company intends to enter into indemnification agreements with each director and executive officer .
- Non-compete/non-solicit/garden leave: Not disclosed.
- Insider trading: Formal policy adopted March 18, 2025 with black-out windows, 10b5‑1 plan requirements, ban on short sales, suggested preclearance, and reporting of trades/pledges .
Board Governance
| Item | Status/Detail |
|---|---|
| Board service | Director since Oct 2025; not independent (independence excludes CEO Chan and Danny Lim) |
| Committees | Audit Committee and Compensation Committee comprised of Wong Tat Keung, Wong Shui Yeung, William Wu; Lim is not listed as a member |
| Committee chair roles | Not disclosed; Audit Committee report signed by Wu, Wong Tat Keung, Wong Shui Yeung |
| Meetings/Attendance | Board held three meetings in FY 2024 ; prior year (FY 2023) the board held two meetings and each director attended all meetings of the board and committees served |
| Lead Independent Director | Not disclosed |
| Executive sessions | Not disclosed |
Director Compensation
| Director | Annual Retainer (Cash) FY 2024 | Total FY 2024 |
|---|---|---|
| Wong Tat Keung | $10,000 | $10,000 |
| William Wu | $10,000 | $10,000 |
| Wong Shui Yeung | $10,000 | $10,000 |
| Chan Heng Fai | $0 | $0 |
| Lim Sheng Hon Danny | $0 | $0 |
Company set independent director cash compensation at $10,000 per year (paid quarterly) beginning in 2024; no equity grants to directors; stock awards plan not yet adopted .
Other Directorships & Interlocks
- Lim serves on boards of Alset Inc. (majority shareholder of HWH), Alset International Limited, DSS, Inc., and Value Exchange International, Inc. .
- HWH has extensive related party transactions and financing arrangements with Alset Inc. and Alset International Limited, including a $1,000,000 credit facility (3% rate), debt-to-equity conversions (6,034,537 shares at $0.63), and additional share purchases by AEI in late 2024; these create potential conflicts and governance risks given overlapping leadership and control .
Company Performance Context (during Lim’s tenure)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($) | $830,519 | $1,253,577 |
| Net Loss ($) | $(1,076,662) | $(2,606,504) |
| F&B Revenue ($) | $817,761 | $1,253,577 |
Operational notes: membership revenue effectively suspended (0% in 2024), revenue driven by F&B and Ketomei consolidation; going concern risk noted with working capital deficit, reliance on related party financing, and Nasdaq compliance actions including a 1-for-5 reverse split to regain bid price compliance .
Compensation Structure Analysis
- Increase in guaranteed pay vs at-risk pay: None; executives received no cash compensation, and no equity awards exist—indicative of a low-cost management structure but weak pay-for-performance alignment .
- Shift from options to RSUs: Not applicable; no option or stock award plans adopted .
- Discretionary bonuses despite targets: None disclosed .
- Performance metric targets: Not disclosed; Compensation Committee retains authority but no executive metrics published .
- Repricing/modification of awards: Not applicable; there are no outstanding awards .
Risk Indicators & Red Flags
- Independence/Control: Majority control by Chan/Alset group (78.2% in 2025; 86.6% in 2024), and Lim is non-independent director; extensive interlocks may impair board independence and minority shareholder protections .
- Related party transactions: Significant and recurring with Alset entities; audit committee oversight required .
- Going concern: Substantial doubt noted given losses and working capital deficit; reliance on parent financial support letters and credit facility .
- Legal proceedings: None material disclosed .
- Hedging/pledging: Short sales prohibited; pledging requires notification but no explicit ban—monitor for future filings .
- Nasdaq listing risk: Series of deficiency notices in 2024; regained bid price compliance post reverse split and moved to Nasdaq Capital Market .
Compensation Committee Analysis
- Members: Wong Tat Keung (financial expert), William Wu, Wong Shui Yeung; met once in FY 2024 .
- Consultants: Committee can engage independent compensation consultants; no disclosure of usage in period .
- Risk review: Committee concluded compensation policies are not reasonably likely to have a material adverse effect .
Investment Implications
- Alignment and retention risk: Lim holds no HWH shares and has no disclosed cash/equity compensation, reducing near-term insider selling pressure but weakly aligning executive incentives with shareholder value; absence of severance/CoC terms suggests low immediate entrenchment risk but potential retention risk if compensation framework remains undeveloped .
- Governance and control: Heavy related party ties and majority ownership by Alset, combined with Lim’s non-independent board role, elevate governance risk and potential conflicts; investors should price in oversight risk and scrutinize related-party economics .
- Execution focus: Revenue growth in FY 2024 was F&B-led amid broader restructuring; lack of disclosed performance metrics for executive pay reduces transparency on pay-for-performance; watch for adoption of a stock awards plan and codified KPI frameworks as catalysts for improved alignment .