‘Pursuing Own Personal Interests’ means…

Ziwo Holdings’ (BM Mobility) announcement of cessation

Ziwo Holdings (now known as BM Mobility, SGX:I9T) announced the resignation of Mr Ting Chun Yuen as Non-Executive Director on 04-Jan-2018, citing the reason of resignation as ‘Mr Ting has resigned to pursue his own personal interests.’ (link).

Note: Mr Ting was the CEO of Ziwo Holdings since 2009. He ‘has resigned as Chief Executive Officer and following such resignation, he has been re-designated from Executive Chairman to Non-Executive Director of the Company’ on 20-Oct-2017.

The announcement on 04-Jan-2018 somehow triggered SGX’s inquiry asking Ziwo Holdings (or BM Mobility) to disclose and elaborate on these “own interests”.

The ‘Personal Interests’ To Pursue

The response: (link)

The Company’s production of raw materials and the supply of import substitution products has dropped by more than 80%. Mr. Ting has resigned to pursue his own personal interests as it is no longer a fulltime job. Mr Ting has yet to decide a personal interest to pursue but is currently reviewing his options.

 

Ooops…. 🤫

Just another typical example of template answer given to template question. If I never ask then you’ll never say.

 

(Reading the response of listed companies to SGX’s inquiries can be entertaining at times. 🤪 )

 

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