HOw come son is named Ronald Ooi Thean Yat ??
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Kim Eng Holdings – Founder Gloria Lee Kim Yew stepped down as chairman and a director of the company yesterday. Her son Ronald Ooi Thean Yat will become chairman and chief executive officer, the broking house said. Mrs Lee, 82, 'has kindly agreed to continue to contribute to the company as founder and advisor', Kim Eng said. She has been chairman since 1989. 'Following 19 years at the helm of the company, she believes the time is right to retire as chairperson and step down from the board of directors.' Kim Eng has also appointed Japan-based Yasumasa Gomi, 65, as a non-executive and non-independent director. Kim Eng said yesterday that its net profit rose 0.5% to $55.4m in the second quarter ended June 30, 2008. Revenue fell 21% to $132.1m. EPS rose to 9.49 cents from 9.36 cents. Group operating income fell 38% to $89m, as a result of lower trade in Singapore and Hong Kong. The lacklustre performance was boosted by a gain of $46.1m from the disposal of associate company Vision Investment Management. For the first half, Kim Eng's net profit fell 27% to $67.9m from a year earlier, as revenue dropped 23% to $227.3m. Kim Eng has not declared an interim dividend. Last year, it declared a special interim dividend of eight cents a share.
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Kim Eng Holdings – Founder Gloria Lee Kim Yew stepped down as chairman and a director of the company yesterday. Her son Ronald Ooi Thean Yat will become chairman and chief executive officer, the broking house said. Mrs Lee, 82, 'has kindly agreed to continue to contribute to the company as founder and advisor', Kim Eng said. She has been chairman since 1989. 'Following 19 years at the helm of the company, she believes the time is right to retire as chairperson and step down from the board of directors.' Kim Eng has also appointed Japan-based Yasumasa Gomi, 65, as a non-executive and non-independent director. Kim Eng said yesterday that its net profit rose 0.5% to $55.4m in the second quarter ended June 30, 2008. Revenue fell 21% to $132.1m. EPS rose to 9.49 cents from 9.36 cents. Group operating income fell 38% to $89m, as a result of lower trade in Singapore and Hong Kong. The lacklustre performance was boosted by a gain of $46.1m from the disposal of associate company Vision Investment Management. For the first half, Kim Eng's net profit fell 27% to $67.9m from a year earlier, as revenue dropped 23% to $227.3m. Kim Eng has not declared an interim dividend. Last year, it declared a special interim dividend of eight cents a share.
