SINGAPORE - Mainboard-listed precision manufacturer, Broadway Industrial Group, said on Monday (Aug 5) it has appointed Tan Choon Hoong, 56, as its chief executive officer (CEO).
"The board, after reviewing the qualifications and working experience of Mr Tan, and conducting interviews with him, had deliberated and approved his appointment as chief executive officer of the group," Broadway Industrial said in a regulatory filing.
Mr Tan will be responsible for providing leadership in the development of strategic plans to advance the group's mission and objectives, the company said.
"He is also accountable for achieving revenue, profitability and growth targets of the group, ensuring production efficiency, quality, service and cost-effective management of resources."
Mr Tan holds a Master of Business Administration from Preston University.
Prior to joining Broadway Industrial Group, he served as CEO and executive director of Shenzhen Zesum Polytron Technologies Inc from 2018 to 2019. Before that, he was at Belton Technology Group from 1998 to 2018, and rose through the ranks from general manager, to his last appointment there as vice-president of corporate sales and marketing, group business development.
Mr Tan holds a deemed interest of 0.04 per cent, or 200,000 ordinary shares in Broadway Industrial, via the shareholding of his spouse, details from an exchange filing show.
Broadway Industrial shares closed at 4.9 cents on Friday, down 7.6 per cent, or 0.4 cent.
The company was added to the Singapore Exchange watch list on June 6 for failing to meet minimum trading price criterion.
Broadway Industrial sunk into the red for its first quarter ended March 31, with a net loss of $5.1 million compared to a net profit of $588,000 a year ago. This was due to an unexpected weakness in the hard disk drive market, causing the group's first-quarter revenue to plunge 26.1 per cent to $67.6 million.