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KTL Global has appointed Tan Kheng Kuan to succeed his brother Tan Kheng Yeow as the company's chief executive officer effective from Thursday.
The company's announcement on the resignation of Mr Tan Kheng Yeow who has held the CEO post since 2007 follows a day after it disclosed that he was interviewed by the Monetary Authority of Singapore (MAS) which had requested him to surrender his passport. The investigation relates to possible offences under Section 197 of the Securities and Futures Act (Chapter 289).
In an announcement, KTL said that he was resigning as CEO and director for personal reasons and will be engaged as adviser to the group.
Mr Tan Kheng Kuan has been with the group since 2003. Prior to his appointment as CEO, he was the director of administration whose responsibilities included assisting the CEO in managing the group's day-to-day operations.