Vallianz revealed Raymond Kim Goh, who was also a non-executive director, was leaving the company “due to health reasons”.

The announcement of Goh’s decision to resign came the same day the Singaporean company he founded, Swiber Holdings, revealed it had made an application to wind up the company.

Goh is also the chairman of Swiber but there was no announcement on Wednesday that he would be leaving the company despite the company announcing the resignation of three other executives.