HWH International Outlines Key Strategies

Company highlights operational performance and strategic initiatives for the year ahead.

November 29, 2024

Corporate Governance and Leadership

HWH International Inc., a Delaware-incorporated entity focused on strategic investments, has detailed its governance framework and leadership priorities in its 2024 Proxy Statement. Scheduled for December 12, 2024, the virtual shareholder meeting will showcase the company's innovative approach to accessibility.

The Board of Directors includes four accomplished members, led by Chairman Chan Heng Fai, a veteran in global financial restructuring. Supporting him are directors with expertise spanning corporate finance, accounting, and investment strategy. Together, they oversee governance through committees focused on audit, compensation, and risk management.

Financial Oversight and Audit Updates

HWH has announced changes to director compensation and audit practices. For 2023, directors received no direct compensation, but independent members will now earn $10,000 annually, effective April 2024. Audit-related expenses totaled over $240,000, reflecting robust oversight during a transformative year for the company.

The shift to Grassi & Co., CPAs, P.C. as the company’s independent auditors marks a significant change, following the amicable dismissal of MaloneBailey, LLP. This transition ensures continuity in financial reporting quality.

Proposals for Shareholder Vote

Three major proposals are on the agenda for the December 2024 meeting:

• Election of Directors: Shareholders will vote on four nominees, including the current Chairman, to serve until 2025.


• Amendment to Incorporation: A proposed change would permit shareholder action by written consent, streamlining decision-making and reducing costs.


• Audit Firm Ratification: Grassi & Co.'s role as the company’s auditors for 2024 will be put to a shareholder vote.

Strategic Financial Initiatives

HWH maintains strategic financial relationships with affiliates Alset Inc. and Alset International Limited, both of which play pivotal roles in liquidity and operational support. In 2024, a $1 million credit facility was secured alongside debt conversion agreements that improved balance sheet flexibility. The acquisition of a 55.65% stake in Ketomei Pte. Ltd. exemplifies the company's expansion into promising growth sectors.

Outlook and Shareholder Engagement

HWH's leadership is committed to delivering long-term value by prioritizing transparency and innovation. The upcoming shareholder meeting reflects a focus on efficiency and inclusivity, with initiatives designed to align the company's operations with stakeholder interests.

With a strengthened financial foundation and a strategic roadmap, HWH aims to capitalize on emerging opportunities while reinforcing its position as a leader in strategic investment and business management.