NRA Capital Pte Ltd

Written by: Jacky Lee

Monday 30 Sep 2013

TeleChoice International Ltd – press release

Changing in Leadership

Current President Andrew Loh to retire after seven years at the helm and Vincent Lim appointed as President-Designate with effect from 1 October 2013

Singapore, 27 September 2013 – TeleChoice has announced the appointment of Mr Vincent Lim Shuh Moh as President-Designate with effect from 1 October 2013. He will succeed Mr Andrew Loh Sur Jin who has helmed TeleChoice as President for the past seven years. Mr Loh will remain as the President of TeleChoice until the effective date of his retirement on 31 December 2013 to facilitate a smooth transition, and Mr Lim will assume the position as President on 1 January 2014.

Mr Lim brings with him more than 30 years’ of information technology (IT) experience. His most recent position was Vice President of Enterprise Data and Managed Services in SingTel where he was responsible for three new portfolios comprising the entire pre-sales and product specialist function, six towers of global delivery competencies and the Vendor Management team for the Enterprise group. He oversaw more than $420 million of product business across the SingTel business that includes business in Australia, leading a team of more than 500 people.

Mr Lim started his career in IT as a Programmer/Analyst with the Port of Singapore Authority in 1981. He then joined Singapore Computer Systems Limited (“SCS”) in 1987 where he was promoted through various executive positions leading to his appointment as General Manager of the Enterprise Computing Unit in 1996. In 1999 he joined the listed GES International group of companies as the Managing Director of Infonet Systems & Services Pte Ltd. Amongst his notable achievements was the setting-up of the world’s largest Cyber-gaming and internet access centre in Singapore in collaboration with StarHub Ltd. He rejoined SCS in 2001 and in 2008, after the acquisition of SCS by NCS Pte. Ltd., was appointed Group General Manager responsible for Products & Services and Commercial General Business.

Mr Andrew Loh, said, “The telecommunications space has changed tremendously in the past few years. The convergence of information technology and telecommunications, consumer demand for voice and data transfers, the advent of the smartphone and changing business and consumer needs have necessitated a transformation of our businesses. With his depth of experience in the telecommunications and IT sectors, Vincent is the right person to bring the organisation to a new level of long-term sustainable growth.”

TeleChoice’s Chairman, Mr Bertie Cheng, said, “We are pleased to have Vincent on board, who brings with him a wealth of ideas which are grounded in solid experience in the telecommunications and IT industry. Vincent is inheriting an organisation which has transformed itself to be a regional provider of infocommunications solutions and services. Andrew has largely been responsible for leading this transformation of our businesses and we wish to extend our appreciation to him for his immense efforts and contributions since joining us. We look forward to working with Vincent to ensure continuity in TeleChoice’s strategic direction, stability in its management and progress in its pursuit of new ventures.”

Mr Loh added, “It has been a tremendous honour to have worked in an organisation which has embraced the dynamism of the telecommunications industry and I thank the Chairman and the Board for their encouragement and support as we moved into the info-communications space.”

http://infopub.sgx.com/FileOpen/27092013_Press_Release_TeleChoice_Announces_Leadership_Change.ashx?App=Announcement&FileID=257791

Valuation:

Base on the statement, we maintain our earnings forecast and Neutral recommendation given that we believe the company's strategy and outlook direction will remain the same through end of the year. Our fair value remains at S$0.26, still pegged at 8x PER FY14. 

 

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TeleChoice International Ltd – press release
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30 September 2013
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