UPDATE: Singapore executive moves Thursday: Nanofilm appoints CEO; ASTI Holdings, Dragon Group

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These are Singapore companies which announced personnel changes on Thursday, 14 October 2021: Nanofilm Technologies International.

This item was originally published on Thursday, 14 October 2021 at 21:34 SGT; it has since been updated to include ASTI Holdings and Dragon Group International.

Nanofilm Technologies International

Nanofilm Technologies International said Thursday it has appointed Gary Ho, age 49, the current deputy CEO and chief commercial officer, as group CEO, effective 1 January.

“Ho’s appointment is part of the company’s ongoing succession planning as it continually identifies and develops talent to reinforce its management team in tandem with Nanofilm’s development and growth. The company is fortunate to be able to effect this succession through an internal promotion due to its ongoing efforts in leadership development,” Nanofilm said in a statement filed to SGX.

Ho’s accomplishments at Nanofilm include sustainable growth in revenue and profit across the business units, particularly for the automotive business, and developing a pipeline of orders over the next few years for the nonfabrication business, the company said.

Shi Xu, age 57, who is also executive chairman, will step down from the Interim CEO role on 1 January, the company said in a filing to SGX. Shu Xu is a spouse of Jin Xiao Qun, a substantial shareholder of the company, the filing said.

Dragon Group International

Dragon Group International said Thursday Lim Boon Liat Timothy, age 56, would cease to be president and acting CEO as he is among the affected personnel in the company’s retrenchment exercise. The effective date will be either 31 March 2022, or a date the acting chairman determines, the company said in a filing to SGX.

Liat will remain with the company as a director, the filing said.

Dragon Group said it began the retrenchment exercise in September.

“The group has been negatively impacted by the on-going geo-political tensions between China and U.S. and the global pandemic (which has devastated the global economy and have adversely affected global supply chains). As a result of this, and in order to ensure the group’s survival during this difficult period, the company and its subsidiary FE Global Shanghai Ltd., have each commenced a retrenchment exercise,” Dragon Group said in the statement.

ASTI Holdings

ASTI Holdings said Thursday Lim Boon Liat Timothy, age 56, would cease to be group administrative officer as he is one of the affected personnel in the company’s retrenchment exercise.

The effective date will be 28 February 2022 or another date determined by the Chairman/CEO, the company said in a filing to SGX.

Lim, who had been appointed as group administrative officer in 2013, will remain a director of the company, the filing said.

 

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