YuuZoo appoints Fred Lim as new CFO

MAINBOARD-LISTED YuuZoo on Tuesday announced that it has appointed a new chief financial officer (CFO), one day after it reported the cessation of its previous CFO Michael Parker.

Fred Lim, the newly appointed CFO, was executive director and CFO of China Fanwo Public Security Limited, a security and surveillance business. He was also CFO for SGX-listed Sunningdale Tech Limited from 2004 to 2006.

As CFO of YuuZoo, Mr Lim will be charged with all financial aspects of YuuZoo's operations, development and investor relations, YuuZoo said in a filing to the Singapore Exchange.

"Fred's appointment is vital as YuuZoo focuses on finalising its capital structure. One of his main assignments will be setting up a sound budget which is consistent with YuuZoo's business aspirations."

The social networking and e-commerce company added that Mr Lim will undertake investor relations with a mission to invigorate the "currently static investor climate", seeking to "acquaint existing and potential investors" alike with information on YuuZoo's "dynamic business model".

On Monday, YuuZoo said that its former CFO Mr Parker had "operational and territorial limitations for the charge of YuuZoo's growth and expansion aspirations".