Singapore: Ezra Holdings has announced the appointment of Eugene Cheng Chee Mun to the role of group cfo.
Cheng is currently the gm for finance and will take on the new role from November 1, taking over from finance director Tay Chin Kwang who will serve as an executive director. Cheng's background prior to joining Ezra in 2012 was in J.P. Morgan’s South East Asia corporate finance and mergers & acquisitions franchise, where he led a number of high-profiled mergers and acquisitions.
The move may lead to further speculation in the market regarding a takeover of the group, who recently quashed talk of a takeover by Korean shipbuilding giant Samsung Heavy Industries which lead to a substantial spike in the price of Ezra shares.
Cheng's appointment was announced as Ezra released full year results, posting revenue growth of 28% to $1.26b and a net profit after tax of $64.1m, marginally lower than last year. [25/10/13]