Wai Kuan Chan
About Wai Kuan Chan
Wai Kuan Chan, age 44, has served as an independent director of Treasure Global Inc. since September 2024, bringing extensive sales and business development experience across Malaysian automotive and consumer sectors; he currently chairs the Compensation Committee and serves on the Audit and Nominating & Corporate Governance Committees . His biography notes prior senior sales leadership roles at Skyway Motorsports, Naza Motor, and Hap Seng Star, and entrepreneurial leadership as co-founder of Lẻ-Hase Motor and founder/manager of Casa Tropical Enterprise; no legal proceedings or family relationships are disclosed for him in the past 10 years . The Board determined he is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Skyway Motorsports Sdn Bhd | Sales Director | 2008–2009 | Led sales initiatives for high-performance/luxury vehicles and campaigns with marketing teams |
| Naza Motor Sdn Bhd | Sales Director | 2010–2012 | Directed multi-brand sales operations; managed large regional sales force |
| Lẻ-Hase Motor Sdn Bhd | Co-founder | 2012–2014 | Oversaw business operations; set strategy and processes |
| Hap Seng Star Sdn Bhd | Sales Director | 2014–2018 | Led sales strategies for luxury auto; team leadership and CRM strategy |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Casa Tropical Enterprise | Founder/Manager | 2018–present | Oversees product development, marketing, international distribution; strategic plans and key stakeholder management |
Board Governance
- Committee assignments: Compensation Committee (Chair); Audit Committee (Member); Nominating & Corporate Governance Committee (Member) .
- Independence: The Board has determined that Wai Kuan Chan is independent under Nasdaq rules, alongside Kok Pin “Darren” Tan and Wei Ping Leong .
- Attendance and engagement: In FY 2025, the Board met by unanimous written consent six times and held no in-person/teleconference meetings; each director attended at least 100% of Board and committee meetings during their service period .
- Audit Committee competency: Current Audit Committee members are independent; Wei Ping Leong (Chair) is designated the audit committee financial expert; the Committee met four times in FY 2024 .
| Committee | Chair | Members | Key Oversight Functions |
|---|---|---|---|
| Audit | Wei Ping Leong | Kok Pin “Darren” Tan; Wai Kuan Chan | Financial reporting integrity; internal controls; risk oversight; auditor independence/selection; related-party transactions; legal/regulatory compliance |
| Compensation | Wai Kuan Chan | Wei Ping Leong; Kok Pin “Darren” Tan | Executive compensation policies; equity plan administration; incentive/equity compensation; use of independent consultants |
| Nominating & Corporate Governance | Kok Pin “Darren” Tan | Wai Kuan Chan; Wei Ping Leong | Director nominations; performance evaluations; corporate governance matters; shareholder nominations process |
Fixed Compensation
| Component | Amount | Currency | Start Date | Notes |
|---|---|---|---|---|
| Monthly Retainer (Independent Director) | RM 5,000 | Malaysian Ringgit | Sep 5, 2024 | Approx. US$1,177/month at RM4.2435/US$1 (as of June 13, 2025); independent directors Tan (from Jul 5, 2024), Leong (from Aug 29, 2024), Chan (from Sep 5, 2024) |
| Committee Chair/Member Fees | Not disclosed | — | — | No separate chair/member fees disclosed in 2025 proxy . |
| Meeting Fees | Not disclosed | — | — | Not disclosed . |
Performance Compensation
| Award Type | Grant Date | Shares/Units or Options | Terms (Strike/Expiry/Vesting) | Performance Metrics |
|---|---|---|---|---|
| Equity awards (director) | None disclosed | — | — | No specific director performance metrics disclosed . |
| Plan capacity (2025 Equity Incentive Plan) | N/A | Max 571,176 shares (plus auto reserve increase) | Permits ISOs/NSOs, RSAs, RSUs, SARs, performance shares/units, cash awards; exercise price ≥ FMV; restricted stock voting/dividends subject to restrictions | |
| Performance awards under Plan | N/A | Discretionary | Performance Goals, Performance Periods set by Administrator; project-based compensation allowed | Metrics not specified; to be set by Administrator; no participant-specific grants disclosed |
Other Directorships & Interlocks
| Company | Role | Public Company? | Notes |
|---|---|---|---|
| None disclosed | — | — | No other public company directorships or disclosed interlocks for Wai Kuan Chan . |
Expertise & Qualifications
- Sales and market expansion leadership across luxury automotive brands; revenue growth orientation and CRM strategy execution .
- Entrepreneurial/business-owner experience managing product development, marketing, and international distribution .
- Governance roles: Chair of Compensation; member of Audit and Nominating & Corporate Governance; independent status under Nasdaq rules .
Equity Ownership
| As-of Date | Shares Beneficially Owned | % of Outstanding | Shares Outstanding |
|---|---|---|---|
| Record Date in 2025 Proxy (July 2025 filing) | — (none reported) | * (less than 1%) | 4,149,405 |
| Record Date in Nov 14, 2025 Proxy | — (none reported) | * (less than 1%) | 16,962,004 |
Notes:
- Officers and Directors as a group ownership for Nov 14, 2025: 390,389 shares (2.30%)—Chan individually listed with “—” (none reported) .
- No pledging, hedging, or guideline compliance disclosures specific to Chan; no director ownership guidelines disclosed .
Governance Assessment
- Strengths: Independent director; chairs Compensation Committee; serves on Audit and Nominating & Governance; 100% attendance in FY 2025; Audit Committee independence affirmed and chaired by designated financial expert (Leong), enhancing oversight quality .
- Compensation alignment: Cash retainer is modest (RM 5,000/month, ~US$1,177); no director-specific equity grants disclosed as of June 30, 2025, limiting immediate equity alignment but reducing dilution risk .
- Ownership alignment: No reported share ownership for Chan at July/Nov 2025 record dates—low “skin in the game,” which may be viewed negatively by some investors despite independence and committee responsibilities .
- Related-party/conflict posture: Audit Committee reviews and approves related-party transactions ≥ US$120,000; 2025 proxy and 2025 10-K disclose no such transactions involving Chan; company-level related party items primarily involve other individuals/entities (e.g., Teo, Tan) .
- RED FLAGS: Low personal ownership stake (none reported) may weaken alignment; monitor for any future related-party transactions or equity grants under the 2025 Plan; currently, no attendance or independence concerns disclosed .