Oceanus Group appoints Ng Cher Yew as CEO

He a will act as in an interim capacity during the transitional period whilst the Company takes the appropriate action to fill the post.

Oceanus Group announced the appointment of Ng Cher Yew as Chief Executive Officer. The Nominating Committee and the Board have reviewed, assessed and concluded that Dr Ng Cher Yew possesses the requisite experience and capabilities to carry out his duties as the interim Chief Executive Officer with immediate effect and during the transitional period whilst the Company takes the appropriate action to fill the vacancy of the Chief Executive Officer of the Company. At the same time, he provides the continuity and context to represent the Group to external stakeholders including investors and suppliers.

Dr Ng Cher Yew will be responsible for the day-to-day operations of the Group.

Dr Ng Cher Yew is the Executive Chairman of the Company and is responsible for the strategic direction and overall management of the Group's operation.

He is also the co-founder and director of Springboard Worldwide Pte. Ltd. which partnered WI Harper Group based in San Francisco, USA in 2000 to manage a US$70 million fund under the joint venture, Springboard Harper Investment Pte. Ltd. Dr Ng has more than 14 years experience in the PRC in the areas of specialty fluorochemistry, veterinary pharmaceuticals and biologics and precision engineering/plastic mould injections.

In 1996 Dr Ng set up Ken Rise Enterprise Limited in Hong Kong as a holding company for his trading business subsidiaries; namely Solpac Chemicals Ltd and SVB International Ltd., according to a Oceanus Group report.

From 1985 to 1991, Dr Ng served part of his bond as a returning scholar in the AgriFood and Veterinary Authority under the Ministry of National Development as a senior officer in various key appointments. His last appointment was Deputy Director, Corporate Services. Dr Ng left the Civil Service to join the Asian HQ of a Belgian MNC, Solvay & Cie based in Singapore, Solvay Asia Pacific Pte Ltd, as its Area Manager. He went on to set up Solvay Biosciences based in Hong Kong for the Belgian MNC in 1994 and became its first Managing Director. In 1997, he left Solvay Biosciences to start his own business.