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Yangzijiang Financial to start new ventures with departing CEO Toe; reaffirms buybacks

The Edge Singapore
The Edge Singapore • 8 min read
Yangzijiang Financial to start new ventures with departing CEO Toe; reaffirms buybacks
Correlation between shipping rates and new building orders has reduced, says Ren / Photo: Albert Chua
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Ren Yuanlin, executive chairman of Yangzijiang Financial Holding (SGX:YF8) (YFH), is making one of his regular visits to Singapore, where the company is listed. Besides meeting the investment community to update them about the company, he has lined up a few property viewings as he expects himself to be here more frequently. “If not, I’m always staying in hotels. It is always nicer to have a home,” says Ren.

In a way, buying a “home” here is out of necessity. On Oct 20, the company announced that its Singapore-based CEO Vincent Toe is resigning and will end his tenure next April — completing a two-year term at the job. Ren, who is the single largest shareholder with 23.7%, will double up as CEO.

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