The board of Fu Yu Corporation has decided to reinstate Victor Lim&rsquo s employment with the group as director of strategy with effect from Nov 1, 2025.

 

This announcement comes after ongoing board woes and internal audits exposing issues with the group&rsquo s risk management processes which have been occurring since mid 2024.

 

The nominating committee of the group has also received Lim&rsquo s application to be appointed to the board, and notes that it is in the process of reviewing the application.

 

Lim, who was at one point the sole shareholder of a fund controlling a stake in Fu Yu, made three requests to table resolutions to oust and appoint directors to Fu Yu&rsquo s board from Jan to March 2025.

 

The company in April 2025 then announced that it was pursuing claims against Lim and five others over investigations into the group&rsquo s supply chain arm Fu Yu Supply Chain Solutions (FYSCS).

 

The company claims against Lim and others were over the acquisition of FYSCS, as it alleged that there was a &ldquo breach of duties, misrepresentation, and a conspiracy to cause loss&rdquo to the company.

 

On June 15, Fu Yu announced that all three of its independent directors had resigned with effect from June 11, leaving executive director and CEO David Seow as the sole remaining board member.

 

On June 18, the law firm Rajah & Tann said it completed its report pertaining to the investigations over the ongoing probe of the subsidiary unit FYSCS.

 

Fu Yu&rsquo s board also notes that they have agreed with Lim that his salary from the period of his cessation to his reinstatement shall be donated to charity.