Stratech appoints Lim Soon Hock Deputy Chairman & Executive Director

Company banks on Lim's capability to harness company's intellectual property and knack for leading business turn-around.

Singapore Exchange Mainboard listed Stratech Systems Limited (Stratech) announced on Friday the appointment of Mr. Lim Soon Hock as its Deputy Chairman and Executive Director, with effect from August 10, 2010, for two years.

Prior to his appointment as Deputy Chairman and Executive Director, Mr. Lim was a Non-Executive and Independent Director of the Company, Since 16 September 2004. He was the Chairman of the Nominating Committee and also served as a member of both the Audit Committee as well as the Remuneration Committee, according to a Stratech report.

“Mr. Lim is a veteran in the industry. As the Company embarks on its next lap of growth, it intends to tap on Mr. Lim's long years of experience in management and business as well as his domain expertise in the industry to unlock the full potential of the Company's intellectual properties (IP). Mr; Lim has proven experience in taking a company from start-up to phenomenal success as with his tenure in Compaq Computer Asia Pacific and in business turn-around as well as business acceleration with Digital Equipment Singapore and SITA INC Asia Pacific,” said Dr, David K.M. Chew, Executive Chairman of Stratech.

In the last decade, Mr. Lim has been involved with taking three companies public, one each on SGX-ST, ASX and AIM as well as four mergers and acquisitions. About a yer ago, he was appointed by a consortium of bank and a public auditing firm to over see the restructuring and reverse take-over for a public-listed company, which he completed successfully recently.

“One of Mr. Lim's key tasks is to streamline the Company's operations, raise productivity, oversee corporate governance and risk management, given the complex nature of the business, which I largely project based, and to prepare the Company for the net phase of growth. The Company has a proven track record of designing, developing, and implementing complex IT systems for complex and demanding operating environments, such as its iFerret, Super BullsEye II an OCOE System,” sadi Mr. Sajjad Akhtar, Chairman of the Audit Committee.

Mr. Lim will be remunerated in equities, drawing a nominal salary of $8.00 per year. He will be allotted and issued 28,818,443 new ordinary shares in the Company and be awarded options to subscribe to 12,500,000 new ordinary shares.

Mr. Lim said: “There are very few companies in Singapore with the kind of intellectual properties which Startech has developed and accumulated over the years. This is the Company's most valuable asset, apart from human capital. The IP and patents offer a company more latitude to grow exponentially and to be more profitable, as has been shown by the phenomenal success of many top Fortune 500 companies in the USA.

Stratech has now evolved to be a large company in its formative stage. I am delighted to be offered the more opportunity to join the board and the management, at this crucial turning point in its history, to take the Company to it next stage of growth, by unlocking the potential of the Company's IP to the fullest.”

Dr. David K.M. Chew said: “The fact that Mr. Lim is prepared to be remunerated in equities is a big vote of confidence in our Company, our capabilities and potential. In the Company's next lap, the sky is NOT the limit, as we continue to work hard to maximize shareholder's value.”