Last checked at 28 Aug 2008 09:28
28 August 2008
ANGLO EASTERN PLANTATIONS ANNOUNCES NEW ACTING CHIEF EXECUTIVE
Anglo-Eastern Plantations Plc (AEP.L) today announces that, after ten years in the role, Mr. Chan Teik Huat retired as Chief Executive on 26 August 2008. For this position the Company has appointed Mr. Donald Han Low as the Acting Chief Executive.
Mr. Chan Teik Huat became Chief Executive in 1998 and over the last ten years has led the Company through a period of significant growth, both strategic and organisational. Under his leadership Anglo Eastern Plantations has developed and implemented new strategies to become a world class palm oil plantation company, consistently delivering results.
In management of the Company's assets during this time the Company has increased shareholders' value, improved revenue and significant cost reduction.
Organisationally the Company has been structured to take advantage of its significant regional footprint by becoming a pure plantation business with clear distinction between regional and local activities.
During his time as Chief Executive the Company has grown its land bank and crop size which has consistently delivered strong results. Returns to shareholders over this period have also been very positive. He has also built a strong senior management team and taken the lead on major industry issues, including sustainable agro-business.
Mr. Chan Teik Huat will remain as Executive Chairman of the Company.
Notes to Editors:
Mr. Chan Teik Huat (aged 68)
Chartered Accountant; former managing director of Metroplex Berhad until January 2006; founder and managing partner of a leading accounting firm, Kassim Chan, Malaysia for some 17 years. The firm has been renamed Deloitte Kassim Chan and, subsequently, Deloitte.
Mr. Donald Han Low (aged 43)
Donald Han Low holds a Bachelor of Economics degree from University of Western Australia.
He has held management posts in several companies in Asia and Australia. His experience encompasses all aspects of investment banking type activities dealing with corporate restructurings, capital raisings and corporate turnarounds.
He has held directorships in publicly listed companies on the ASX in Australia and Bursa Malaysia in Malaysia. In the past five years of holding directorships in publicly listed companies, Donald was the Chairman of Liqua Health Corporation Berhad and independent non-executive director of MP Technology Resources Berhad in Malaysia. He is currently a non-executive director of Atech Holdings Limited, a publicly quoted company on the ASX in Australia.
He has served in management and advisory positions for corporations with activities in telecommunications, infrastructure, retailing and agro-business covering the Asian/Australian region.
Enquiries:
Bankside Consultants
Charles Ponsonby 020-7367 8851