Board of Directors

Sapphire posts 3Q earnings of $3.6 mil; directors to step down for board renewal in share-swap deal

SINGAPORE (Nov 13): Sapphire Corporation, the railway infrastructure engineering firm, has announced earnings of RMB17.6 million ($3.6 million) for the 3Q ended Sept, a 31.1% improvement from RMB13.4 million a year ago on higher revenue.

Revenue for the quarter grew 22.6% to RMB369.5 million from RMB301.4 million previously on the completion of its subsidiary Ranken Infrastructure Limited’s site preparation works and commencement of the construction phase of several recently secured projects, in addition to a higher number of ongoing projects in China.

EC World REIT manager appoints new deputy CEO and CFO

SINGAPORE (Jan 20): EC World Asset Management has appointed Alvin Cheng as its new executive director and deputy chief executive officer (CEO) with immediate effect.

In a Friday filing to the SGX, the manager of EC World REIT says it has also appointed a new chief financial officer (CFO), Johnnie Tng, to replace its former CFO Huang Jian, who has been transferred to its sponsor Forchn Holdings Group.

Both Cheng and Tng hold more than 25 years of experience in corporate finance and their respective fields of REIT management and private equity investment.

Malaysia Smelting Corporation announces new CEO

SINGAPORE (Oct 7): Dual-listed refined tin supplier Malaysia Smelting Corp. (MSC), a subsidiary of Straits Trading Co, on Friday appointed Patrick Yong Mian Thong as its new CEO with immediate effect.

This comes after the resignation of CEO Chua Cheong Yong who has left to pursue personal interests, according to the group’s filing to the Singapore Exchange (SGX) on Thursday.

MAS appoints Ong Ye Kung to board, Lawrence Wong steps down

SINGAPORE (Aug 29): Monetary Authority of Singapore (MAS) today announced its new appointment of Ong Ye Kung, Acting Minister for Education (Higher Education and Skills) and Senior Minister of State, Ministry of Defence, to its board of directors – as well as the stepping down of Lawrence Wong, Minister for National Development.

In a Monday statement, MAS states that Ong’s term of appointment will last until 31 May, 2019.

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