MC Payment hiring to fill executive positions vacated after board tussle

PAYMENT services provider MC Payment TVV is in the process of interviewing candidates to fill the executive positions vacated after two of its executive directors resigned in a board tussle, the Catalist-listed company said.

In its response statement to the frontline market regulator Singapore Exchange Regulation (SGX RegCo) on Friday, MC Payment said it was negotiating the employment contracts with the candidates identified to replace chief executive cum director Anthony Koh and chief financial officer Madeline Sam.

Mr Koh, Ms Sam and Kim Moon Soo, chief operating officer and executive director, are serving out their notice periods of between three and six months, after they and three non-executive directors resigned en masse recently.

Their exits prompted SGX RegCo to ask the company who will be running the operations as all the six newly appointed directors - including controlling shareholder and non-independent chairman Ching Chiat Kwong - are holding non-executive positions.

Mr Ching is chief executive of mainboard-listed property group Oxley Holdings.

MC Payment said that its daily operations are being managed by the outgoing C-suite officers under the supervision of the board, and they will ensure the smooth handing over of their duties when the new key executives join.

The counter ended 1.19 per cent higher at S$0.425 on Friday, before this response was published.