Creative Technology in January saw the death of its founder and sole substantial shareholder Sim Wong Hoo. On top of that three of the group’s four directors have already served for over nine years and would have to step down soon, according to Singapore Exchange S68 (SGX) regulations.
On Sept 18, Creative announced its first two new appointed non-executive and non-independent directors – Kwang Toh Kay and Sim Li Ern.
Kwang will assume his role with effect from Sept 18. Kwang is currently also the co-founder, director and group CEO of SkyLab Holding (from Oct 2015), as well as the founder, director and advisor of Infracomms (from July 2011). He currently is also a board member of Kwang Wai Shiu Hospital and Yang Cheng Primary School.
Li Ern on the other hand also came into his role from Sept 18. He is the nephew of the late Sim Wong Hoo. The younger Sim was previously the regional sales manager, India and Subcontinents for Creative (2014-2018) and the regional sales manager, Asia for Creative (2018-2023).
On top of his promotion, Li Ern is one of the persons entitled in distribution of the estate of the late Sim. He is also an administrator of the estate of Sim. Accordingly, he is deemed to have an interest of about 23.3 million shares in the company held by the late Sim’s estate.
Shares in Creative closed at $1.16 on Sept 16.
