Corporate digest

CapitaLand

CAPITALAND'S new president and group chief executive officer Lee Chee Koon, 43, will be appointed an executive non-independent director of the company with effect from Jan 1, 2019. On Sept 15, Mr Lee took over as president and group CEO from Lim Ming Yan. Mr Lim was to remain on the board as a non-independent director until retiring on Dec 31.

Compact Metal Industries

AS PART of Compact Metal Industries' internal restructuring agreement, chief executive officer Chng Beng Hua, 53, will relinquish the position with effect from Dec 31, 2018, while remaining an executive director of the company. Current executive director and managing director Zhang Zengtao will take over as CEO on the same date.

Acromec

CATALIST-LISTED specialist engineering firm Acromec has highlighted differences in its unaudited and audited financial results for the year ended Sept 30, 2018, with an additional S$801,000 loss recorded.

With the audited results, loss attributable to owners of the company widened to S$3.43 million from S$2.62 million previously. Loss per share was 2.58 Singapore cents, compared to 1.97 Singapore cents based on the unaudited results. The discrepancy was due to an additional S$801,000 in other operating expenses and an accompanying decrease in trade receivables.