NutryFarm shareholders seek CEO removal as company pivots from durians to data centres
Shareholders of NutryFarm are pushing to remove CEO Niu Liming amid a corporate pivot from durian distribution to data centers and AI services. The dispute involves allegations regarding proxy voting rights and comes as the company attempts to resume trading on the SGX mainboard.
Why it matters
The leadership struggle highlights the governance challenges faced by companies undergoing major business model transformations while suspended from public trading.
The dispute comes as NutryFarm seeks to rebuild its business and resume trading on the SGX mainboard after more than four years of suspension since April 2022.
Listen Summarise Shareholders want NutryFarm CEO Niu Liming removed and have questioned whether he can vote for major shareholder Jia Lijie. They also seek a special general meeting to replace him and appoint Charlie In. The dispute adds pressure to NutryFarm as it tries to restart trading on the SGX mainboard after years of suspension. The company says it is reviewing the allegations and seeking legal advice. NutryFarm is shifting from durians to data centres and AI services. Its restructuring could turn creditors into major shareholders, but it may also dilute existing holders and deepen the control fight. AI generated
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