SUSTAINABILITY GOVERNANCE

CDL has established the longest history amongst Singapore companies to have a dedicated Sustainability department. The Chief Sustainability Officer (CSO) reports directly to the Board Sustainability Committee (BSC), which comprises three independent directors and CDL’s Executive Director and Group CEO. The BSC has direct advisory supervision on CDL’s sustainability strategy, workplans and performance targets, and typically meets biannually to review CDL’s sustainability plans in addition to receiving quarterly reports from the management.

The BSC’s key role include assisting the Board in the review of CDL’s sustainability issues and approach to sustainability reporting, reviewing CDL’s ESG framework, key ESG targets and performance, and reputation as a global corporate citizen. Sustainability knowledge-building amongst directors and senior management of CDL Group and our parent company, Hong Leong Group, are reinforced through an annual sustainability forum, where external experts share best practices.

The CSO chairs the Sustainability Committee, which comprises members across all departments and operational units in CDL. Heads of Departments (HODs) and their line managers are held accountable for their ESG performances, which are linked to their remuneration and appraisal.

Sustainability Governance Structure

Board Sustainability Committee (BSC)

  • Tan Yee Peng

    Chairperson, BSC
    Non-Executive and Independent Director

    Appointed as a Director of CDL on 7 May 2014, Ms Tan was last re-elected on 25 April 2017. She is also the Chairman of the Board Sustainability Committee (BSC) and a member of the Board Committee (BC), the Audit and Risk Committee (ARC) and the Nominating Committee (NC) of CDL.

    Ms Tan is also an Independent Director of Dutech Holdings Limited.

    Ms Tan graduated with First Class Honours degree in Accountancy from Nanyang Technology University (NTU) and has more than 18 years of accounting and auditing experience, and previously served as an audit partner with KPMG LLP (“KPMG”) from 2003 to 2010. As an audit and advisory partner, she was closely involved in providing accounting and advisory services to clients in both the private and public sectors. Ms Tan also acted as the Reporting Accountant and auditor for several companies listed on the Singapore Exchange, but was not involved in any KPMG audit engagement with the CDL Group.

    Since her retirement as a practicing accountant, Ms Tan, at the request of KPMG, served as principal advisor from 2010 to 2011 on matters related to the healthcare industry, and assisted the firm in establishing the AsPAC Healthcare network. Ms Tan was an Adjunct Associate Professor of the Nanyang Business School, NTU, till 2018. Besides academia, she has also been contributing actively to the non-profit sector and is a member of the Medifund Committee of Vanguard Healthcare. Ms Tan was formerly a member of the Audit Committee (non-board position) of Jurong Health Services Pte. Ltd.

    Ms Tan is a Fellow of the Institute of Singapore Chartered Accountants and a member of the Singapore Institute of Directors.


  • Sherman Kwek

    Group Chief Executive Officer and Executive Director

    Appointed as an Executive Director of CDL on 15 May 2019, Mr Kwek has been the Group Chief Executive Officer since 1 January 2018 and concurrently holds the position of Executive Chairman of CDL China Limited. Mr Kwek currently sits on the Board Sustainability Committee (BSC).

    Mr Kwek has been a Council Member of the Singapore Chinese Chamber of Commerce and Industry (SCCCI) since 2013. He was appointed by the SCCCI as the Chairman of the Youth Business Affairs Committee, which is tasked with promoting the Chinese entrepreneurial spirit, managing succession planning and nurturing future business leaders. Mr Kwek is also a member of the Council for Board Diversity (formerly known as the Diversity Action Committee initiated by the Singapore Exchange Limited) which advocates greater gender diversity on the boards of listed companies. In April 2019, he was appointed as a board member of the Building and Construction Authority (BCA), a statutory board that plays a key role in shaping the built environment in Singapore.

    He graduated from Boston University with a Bachelor of Science in Business Administration, majoring in Finance and Marketing with a minor in Psychology.


  • Philip Yeo Liat Kok

    Non-Executive and Independent Director

    Appointed as a Director of CDL on 11 May 2009, Mr Yeo was last re-elected as a Director on 26 April 2019. He is also the Chairman of the NC and a member of the Remuneration Committee (RC) and BSC of CDL.

    Mr Yeo is Chairman of Economic Development Innovations Singapore Pte Ltd (EDIS) which provides strategic advice and undertakes the development and management of integrated industrial and urban areas with an emphasis on job creation and industrial cluster development.

    Mr Yeo is an independent Director of Baiterek National Managing Holding and Kerry Logistics Network Limited and the Chairman of Accuron Technologies Limited, Hexagon Development Advisors Pte. Ltd. and MTIC Holdings Pte. Ltd.

    Mr Yeo holds a Bachelor of Applied Science (Industrial Engineering), an honorary Doctorate in Engineering from the University of Toronto, Canada, an honorary Doctorate in Medicine from the Karolinska Institutet, Sweden, a Master of Science (Systems Engineering) from the University of Singapore, a Master of Business Administration from Harvard University, USA, a Doctor of Science from Imperial College, London, an honorary Doctor of Letters from National University of Singapore and an honorary Doctor of Law from Monash University of Australia. He also received the Order of the Rising Sun, Gold and Silver Star from the Government of Japan (2007) and the Distinguished Service (Star) award from the Singapore Labour Movement, National Trade Union Congress (2008).


  • Tan Poay Seng

    Non-Executive and Independent Director

    Appointed as a Director of CDL on 2 February 2012, Mr Tan was last re-elected as a Director on 26 April 2019. He also sits on the BSC of CDL.

    Mr Tan is the Managing Director of Magni-Tech Industries Berhad, an investment holding company listed on the Main Market of Bursa Securities Malaysia Berhad, and Coronation Springs (M) Sdn. Bhd., a niche property development company. He has been named as one of the best CEOs of companies listed in nine sectors on Bursa Malaysia in 2016.

    Mr Tan holds a diploma in Hotel Management, Switzerland and has more than 20 years of experience in various business sectors which include manufacturing, housing development, marketing, retailing and healthcare services.