• Mr Tay Eng Hoe, a founding director and current Non-Executive Chairman, is named Executive Chairman
• Mr Ong Wei Hiam is named Group CEO and will concurrently hold the position of CFO and Executive Director of VST Holdings Ltd, the HKSE-listed parent company of ECS
• Mr Leong Horn Kee is appointed as Lead Independent Director Group’s mobile devices portfolio

Singapore, 8 December 2012 – Singapore Exchange Mainboard-listed ECS Holdings Limited (“ECS” or the “Group”) announced today the appointments of Mr Tay Eng Hoe, a founding director, as Group Executive Chairman and of Mr Ong Wei Hiam as Group CEO, replacing Mr Narong Intanate who is retiring. Both appointments are effective 1 January 2013. 

Mr Tay, a former CEO of the Singapore-based leading regional Info-Comm Technology (“ICT”) solutions provider representing best-of-class global brand names, will hold the appointment as Executive Chairman for a year, subject to renewal on a yearly basis. He will relinquish his current role as Non-Executive Chairman of ECS. 

Mr Tay, aged 60, is currently also serving as Non-Executive Chairman of Hong Kong Stock Exchange-listed VST Holdings Limited, the parent company of ECS. 

Mr Ong, aged 40 and a Chartered Accountant who is currently an Executive Director of ECS, will be appointed Group CEO of ECS while concurrently serving as Group CFO and Executive Director of VST Holdings. He replaces Mr Intanate who will retire on 31 December 2012 after having served as Group CEO since July 2010. Following his retirement as Group CEO, Mr Intanate will continue to serve the Board of Directors (“the Board”) as Non-Executive Director with effect from 1 January 2013. 

“The Board deeply appreciates the contributions of Mr Intanate during his tenure as Group CEO, especially his leadership at a time of major global economic challenges. While we respect his decision to retire as Group CEO, we are happy that he will continue to serve on the Board as non-executive director,” the Board said in a statement.

“We welcome back Mr Tay, who is a founding director who has served many years as Group CEO as well as its Non-Executive Chairman. His strong experience, industry knowledge and network in the financial and investment community will provide the continuity as ECS charts its next stage of growth,” the Board said. 

“We also welcome Mr Ong as Group CEO of ECS. As the CFO of VST Holdings for many years, he already has a strong understanding of the industry dynamics of ECS. We are confident that, together, Mr Tay and Mr Ong, will provide the necessary leadership and direction of the Group as it embarks on a new chapter of growth,” the Board added. 

Concurrently, ECS announced that Mr Leong Horn Kee, a Non-Executive and Independent Director, has been appointed Lead Independent Director with effect from 1 January 2013. 

With the latest appointment, the ECS Board will comprise, effective 1 January 2013: 

Tay Eng Hoe – Executive Chairman 
Ong Wei Hiam – Group CEO/Executive Director 
Leong Horn Kee – Lead Independent Director 
Tan Hup Foi – Independent Director 
Koh Soo Keong – Independent Director 
Narong Intanate – Non-Executive Director 
Foo Sen Chin – Non-Executive Director 
Mao Xiang Qian – Executive Director