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ASTI Holdings retrenches CEO amid efforts to stay afloat and exit SGX watch-list

Samantha Chiew
Samantha Chiew12/22/2021 06:23 PM GMT+08  • 2 min read
ASTI Holdings retrenches CEO amid efforts to stay afloat and exit SGX watch-list
ASTI Holdings retrenches CEO amid tough times.
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ASTI Holdings announced that it will be retrenching its CEO Michael Loh Soon Gnee in efforts to ensure the group’s survival.

In a filing dated Dec 22, ASTI says that the group has been negatively impacted by the on-going geo-political tensions between China and US and the global pandemic (which has devastated the global economy and have adversely affected global supply chains).

In order to ensure the group’s survival during this difficult period and to exit the SGX watch-list, the group has decided to terminate Loh’s capacity as CEO with his last date with the company being Dec 31, 2021.

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