Sino-Environment Technology Group says it has appointed veteran turnaround specialist, Sam Chong Keen as an Executive Director and Chief Executive Officer for a two-year term with effect from February 10. Sam first joined the Sino-Environment Board as a non-Executive Director on Jan 5.

In the past four years, Sam had spent two years each rebuilding Xpress Holdings from February 2006 to February 2008 and restructuring Jade Technologies Holdings from April 2008 to January 2010, following which he took on a non-executive position as Senior Advisor, President’s Office. Sam remains as a non-Executive Director on the Boards of both Xpress and Jade.

In line with his past appointments at Xpress and Jade, Sino-Environment Technology says Sam will be remunerated in equities, drawing a nominal cash salary of $1 for each year of service. He will be allotted and issued 4% (or 14,122,174 new shares) of the enlarged total issued and paid-up share capital of 354 million shares.