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Allied Technologies' CEO resigns; new appointments announced
ALLIED Technologies announced after trading hours on Wednesday that its chief executive and group managing director Hsu Ching Yuh has resigned to pursue his own interests, amid a slew of management changes in the company.
His effective cessation date will be on Dec 29, but there was no mention of a direct replacement for the role.
In a filing to the Singapore Exchange (SGX), the appointments of a new executive director, a chief operating officer (COO) and financial controller were also announced.
New executive director Darren Chen will oversee the group's strategic investment and corporate planning activities from Wednesday.
This follows a previous announcement that the group's executive director and group deputy managing director Soh Weng Kheong has resigned to pursue his personal interests.
Tan Siang Keng was promoted from her role as group general manager of Allied Technologies to COO, and will oversee the daily operating activities of the group's South-east Asia businesses and Suzhou subsidiary.
Ang Lee Ai was promoted from her role as group accountant to the position of financial controller.
Their dates of appointment were effective today.
The company has been in the news lately over some of its activities, including the disposal of its unit Allied Technologies (Suzhou) Co (ATSU) for S$25 million last week.
The group had also signed a binding Memorandum of Understanding (MOU) with 8travelpay Intelligence & Technology (Shanghai) Co to acquire up to 25 per cent stake in the latter for US$10 million.