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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Delfi Limited    P34   SG1Q25921608

DELFI LIMITED

(P34)
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Delfi : Appointment Of Chief Financial Officer

09/11/2020 | 06:45am EST

FOR IMMEDIATE RELEASE

Appointment of Chief Financial Officer

SINGAPORE - 11 September 2020 - Mainboard listed chocolate confectionery company, Delfi Limited ("Delfi", or together with its subsidiaries, the "Group") wishes to announce the appointment of Mr Richard Jeffrey Chung Ting Tshung ('Richard') as the Chief Financial Officer ("CFO") of the Group, effective 11 September 2020.

Since our announcement on the 15 June 2020, of Mr Koo Liang Kwee's ('Alan') resignation, Alan handed over his duties and responsibilities to Richard, on the 11 August 2020. Richard who is our current Acting CFO has over 28 years of experience in the areas of financial management, financial and business analysis, capital raising, investor relations, business development, mergers and acquisitions, special projects and risk management experience. Of his working experience, he has spent fifteen plus years with Delfi Limited.

Immediately prior to joining the Group, as our Head Corporate Planning, Richard was Director Research for ABN AMRO Securities (Singapore). In addition to fulfilling the duties and responsibilities of CFO, he will continue to head the Group's Corporate Planning initiatives. To assist him in executing the latter, a suitable candidate will be hired.

Richard graduated with a Bachelor of Business majoring in Accountancy, from Deakin University, Australia, in 1988.

Reporting to Delfi's CEO, Richard in addition to leading the Finance function across the Group, will be tasked with assisting the CEO on strategic and key business development matters for the Group.

Mr. John Chuang, CEO of Delfi Limited said, "We are delighted to appoint Richard to fulfil the role of CFO. The Board and I are unanimous in our decision to endorse Richard's appointment. With his financial management skills, and proven track record in successfully leading and completing business acquisitions and ventures, and managing strategic business planning, the Board and I believe his skillset and leadership qualities makes him the right choice to oversee the Group Finance function and his broad range of capabilities complements the role. The Board and

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Management at Delfi Limited would like to warmly welcome Richard, as he takes on this role, and we believe he will do well in strengthening and consolidating our financial organisation."

Details and declaration of Mr Richard Chung as required under Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited are contained in separate announcements made today.

# # #

ABOUT DELFI LIMITED

Headquartered in Singapore and listed on the SGX-ST since 5 November 2004, Delfi Limited and its subsidiaries (the "Group") manufactures and/or distributes branded consumer products that are sold in over 17 countries including Indonesia, Singapore, Malaysia, Hong Kong, Australia, Thailand, the Philippines and China.

Formerly called Petra Foods Limited until an official name change that took effect on 9 May 2016, Delfi has an established portfolio of chocolate confectionery brands which are household names in Indonesia. Its flagship brands in Indonesia include "SilverQueen" and "Ceres" that were introduced in the 1950s and "Delfi" in the 1980s. In addition, the Group also distributes a portfolio of well-known agency brands in Indonesia, Malaysia and the Philippines.

The Group was awarded the top spot in the annual Singapore Enterprise 50 Award in 2003 and was recognized as the "Best Newly Listed Singapore Company in 2004" in AsiaMoney's Best Managed Companies Poll 2004. It was named the "Enterprise of the Year 2004" by the 20th Singapore Business Awards on 30 March 2005 and was named one of "Singapore's 15 Most Valuable Brands" in November 2005 by IE Singapore.

Over the years, Delfi Limited has clinched awards in various categories at the annual Singapore Corporate Awards. The Group won a Silver award for its inaugural annual report in the "Best Annual Report/Newly Listed Company" category in 2006. In April 2009, it clinched a Gold award in the "Best Annual Report/Companies with $300 million to less than $1 billion in market capitalization" category. In May 2010, it bagged two Silver awards for "Best Managed Board" and "Best Investor Relations" under the "companies with $300 million to less than $1 billion in market capitalization" category. In 2015, the Group begged a Bronze award for "Best Managed Board" under the "companies with S$1 billion and above in market capitalization" category.

Delfi Limited's Chief Executive Officer, Mr John Chuang, was also recognized for his leadership and management of the Group. He was named "Best Chief Executive Officer" at the 2011 Singapore Corporate Awards, "Businessman of the Year" at the 2012 Singapore Business Awards and he was one of the recipients of the SG50 Outstanding Chinese Business Pioneers Awards in 2015.

Issued by August Consulting on behalf of Delfi Limited

Media Contact:

Wrisney Tan - Tel: +65 6733 8873, Mobile: +65 9743 2667, Email: wrisneytan@august.com.sg

Avril Lim - Tel: +65 6733 8873, Mobile: +65 9649 5250, Email: avrillim@august.com.sg

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Delfi Limited published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 10:44:15 UTC


© Publicnow 2020
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Sales 2020 416 M - -
Net income 2020 19,8 M - -
Net cash 2020 17,9 M - -
P/E ratio 2020 16,3x
Yield 2020 4,13%
Capitalization 323 M 323 M -
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Nbr of Employees 6 000
Free-Float 48,5%
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 0,65 $
Last Close Price 0,53 $
Spread / Highest target 35,1%
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Tiong Choon Chuang Group Chief Executive Officer & Executive Director
Pedro Francisco Mata-Bruckmann Chairman
Ting Tshung Chung Chief Financial Officer & Head-Investor Relation
Seok Bee Lim Head-Food Safety, Research & Development
Davinder Singh Non-Independent Non-Executive Director
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