HWH International Names New CEO

The company strengthens ties with key stakeholders while deepening investment and lending activity with affiliates.

October 14, 2025

Leadership Update and Strategic Appointments

On October 3, 2025, HWH International made a leadership shift that reflects a broader evolution within the organization. John “JT” Thatch stepped down as CEO. In his place, Chan Heng Fai was reappointed—bringing decades of banking and corporate restructuring experience back into the top executive role. Chan isn’t new to this position; he previously served as CEO and has remained Chairman of the Board since 2021.

At the same time, HWH brought Chief Operating Officer Danny Lim onto its board of directors. Lim also serves as Chief Strategy Officer and has a strong track record with affiliated companies under the Alset umbrella. These appointments bring operational continuity to the company’s leadership and reinforce its alignment with its majority shareholder, Alset Inc.

Closer Alignment With Alset

Alset Inc. and its related entities feature prominently throughout HWH’s recent activity. Over the past year, Alset provided working capital advances, extended a $1 million credit facility, and executed multiple debt-for-equity conversions. In two separate stock purchases in late 2024, Alset acquired over 5.7 million shares for a combined $3.6 million. Together, these transactions tighten Alset’s ownership and deepen its role as a financial backer.

Danny Lim and Chan Heng Fai both hold executive roles within Alset Inc. and Alset International Limited, adding further alignment between ownership and management. The same is true of Lim’s appointment to HWH’s board.

A Steady Cadence of Activity

HWH has been active across a wide range of strategic and financial moves. Through a series of agreements with Sharing Services Global Corporation (SHRG), the company acquired eight convertible promissory notes between March 2024 and September 2025. These investments total roughly $1.33 million and include conversion features, interest-bearing terms, and additional warrants or commitment fees. Several loans were also issued to SHRG during this time, amounting to $280,000.

In a separate transaction, HWH acquired a 60% interest in L.E.H. Insurance Group from SHRG, then later purchased the remaining 40% for $40,000. The acquisition gives HWH full ownership of the insurance business and expands its reach in the sector.

Portfolio Reshaping

HWH has also taken steps to refocus its business segments. Through a joint venture agreement with entrepreneur Chen Ziping and Chan Heng Fai, HWH is helping launch HapiTravel Holding Pte. Ltd. The new entity will own Hapi Travel Pte. Ltd., which was sold for $834 in December 2024.

Elsewhere, HWH’s food and beverage unit finalized a deal in September 2025 to sell 70% of its subsidiary Alset F&B One Pte. Ltd. to Alset International Limited. The sale was valued at approximately $170,000. The company retains a 20% stake in the business.

Where It’s Headed

HWH’s recent activity reflects a clear path: stronger alignment with its largest shareholder, a more concentrated executive team, and a business model that leverages both equity and debt instruments across its network. With Chan and Lim leading the company forward—and financial relationships with affiliates continuing to grow—HWH appears focused on streamlining oversight and expanding through strategic investment.