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Jason's group financial controller quits; another appointed

Tuesday, April 19, 2016 - 08:33

TIMBER flooring provider Jason Holdings said it has accepted the resignation of Andrew Loke Yew Kong as group financial controller and company secretary.

"Mr Loke will be pursuing other career opportunities and the Board extends its best wishes to Mr Loke on his future endeavours," Jason said.

In place of him, the group has appointed Alison Yong Mue Fun, 51, who joined the company on Feb 15, as group financial controller and company secretary. She has assumed the duties and responsibilities of Mr Loke with effect from April 18.

In Ms Yong's last 10 years of work experience, she was senior regional manager at AEM Holdings in 2006-2009, finance manager at Abbott Manufacturing Singapore in 2009-2010 and executive director and company secretary of Worldbiz Management Services in 2012-2013 before stepping back to be a retail investor and trader in the last two years.

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Earlier this month, Jason and its wholly owned subsidiary Jason Parquet Specialist (Singapore) Pte Ltd (JPSS) received a letter of demand from the DBS Bank's solicitors cancelling certain banking facilities granted by DBS to JPSS. DBS is demanding payment of about S$7.29 million - a sum that was guaranteed by Jason Holdings.

JPSS also faces a litigation claim from its sub-contractor Far East Engineering & Construction Pte Ltd (FEEC) over disputes in sanding and varnishing works performed by FEEC at various housing projects.

On March 29, FEEC executed Orders of Court by way of writs of seizure and sale on certain assets of JPSS at JPSS's warehouse and premises.

JPSS is still pursuing its counterclaim against FEEC for loss and damage occasioned by defective works and damage caused to fixtures and fittings at the same housing projects.

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