ShengWorld Resolves to Adopt Corporate Governance Guidelines and Appoints Board of Directors

June 15, 2020: ShengWorld, a Singapore based B2B4C blockchain platform for the healthcare, wellness and lifestyle sectors, announced today that in accordance with its Extraordinary Resolution of its stakeholders on 8th June 2020, it will be adopting a set of Corporate Governance Guidelines to reflect the strong commitment of the Company’s Board of Directors to sound corporate governance practices. The implementation of this policy will ensure sound corporate governance practices and encourage effective and sound decision making, both at the Board and management level,

These guidelines are intended to assist the Board in the exercise of its governance responsibilities and serve as a flexible framework within which the Board may conduct its business in a transparent manner with a high level of accountability. A downloadable version of these Corporate Governance Guidelines will be made available on the ShengWorld’s official corporate website i.e. https://sheng.global

In addition, ShengWorld further announced that the Board has approved a slate of five initial nominees for a new Board of Directors based on the Corporate Governance Guidelines and that will be formally elected at the Company’s next Extraordinary Shareholders’ Meeting in the next 45 days. Upon election, the profiles of these Board members will be formally announced on the Company’s website. The formation of the new Board was the culmination of a two-month intensive feedback process overseen by the Company and its stakeholders.

“The primary goal of this transition to more corporate governance was to listen to the voice of the stakeholders after our initial listing on Probit Exchange about the next stage of growth for the Sheng ecosystem” — said Adrian Wong, co-founder and the existing CEO of the Company.

Another very important announcement related to these newly adopted Corporate Governance Guidelines is that the Company has also setup a Gnosis multi-signature wallet to hold 50% of its total supply of Sheng tokens under the direction of its current Board of Directors. In accordance with its White Paper, Sheng’s tokenomics calls for a “foundation” consisting of 50% of its total supply of tokens that will also act as a reserve for the Company. Three out of the current five Executive Board members will have to approve any transaction involving these tokens held in under this corporate multi-signature wallet.

“Since our listing on Probit, the Company has moved quickly to implement proper corporate governance and to ensure that the Sheng token is protected against any fraudulent or hacking acts. With the administrative and management aspects of the Company in good hands, it is now time to focus primarily on the delivery of the platform. You can expect more good news about Sheng from now on” — said Raymond Chee, Chairman and Co Founder of ShengWorld.

About Sheng World:

Sheng World is the world’s first-ever blockchain-based B2B4C for the lifestyle and wellness industry. The project recently concluded its IEO Sale on Probit, a leading crypto exchange and launchpad. The Public Round Sale has already concluded and the Sheng Token is currently listed on Probit Exchange, allowing its holders to liquidate by trading within the 24/7 open market. To keep yourself updated, check out the website i.e. https://sheng.asia or join the Telegram Group.

Important Links:

ShengWorld Website: https://sheng.asia

ShengWorld Marketplace: https://sheng.global

Sheng Token on Probit: https://www.probit.com/app/exchange/SHENG-USDT

Social Link:
Facebook: https://web.facebook.com/shengworld/

Bitcointalk: https://bitcointalk.org/index.php?topic=5213429.new#new%20target= Telegram: https://t.me/sheng_world

Github: https://github.com/sheng-global/token Reddit: https://www.reddit.com/r/Sheng_Global/

YouTube:https://www.youtube.com/channel/UCXYGWWD2jcVCUka8Cty9RDQ

Twitter: https://twitter.com/sheng_global Linkedin: