De.mem Ltd. announced the appointment of Mr. Andrew Tay as its new Chief Financial Officer, effective 10 October 2023. Mr. Tay is a highly accomplished Australian finance executive. In his most recent role, he worked as the CFO for Powerark Solar Pty Ltd, Australia.

Furthermore, he was the CFO of One Stop Warehouse Pty Ltd, Australia's larger solar distributor and a subsidiary of Shenzen-listed GCL System Int Tech Co Ltd. He had also been appointed as the Finance Manager of Western Resource Recovery, a Joint Venture company between Veolia and Transpacific group. Andrew covered all important finance aspects in his prior roles, including financial accounting and reporting, the development and implementation of cost savings initiatives as well as strategic transactions and capital raisings. He holds an Australian CPA qualification.

Andrew commenced with De.mem on 1 February 2023 in the capacity of Finance Director. His role consolidated other finance functions within De.mem, with no material additional financial burden to the business. Andrew's appointment strengthens the Company's senior management team, following the growth of the business in recent years.

His role will focus on the continued integration and expansion of the different group entities in Australia, Asia (Singapore) and Europe (Germany).