Scorpio East names Ko Chuan Aun as CEO

Mr Ko's familiarity with the Group's business has earned him the CEO and Executive Director posts.

The Board of Scorpio East announced the appointment of Scorpio East names Ko Chuan Aun as Chief Executive Officer. The Nominating Committee and the Board are of the opinion that Mr Ko will be able to contribute positively to the Company in this role after taking into account the following: (i) Mr Ko's familiarity with the Group's business having been an Independent Director of the Company since 2007; (ii) his knowledge, background and experience including holding key leadership appointments. Mr Ko is currently the executive chairman of Athena Corporation Pte Ltd ("Athena"), which was co-invested with SEEDS Capital Pte Ltd in year 2003. Prior to joining Athena, he was the executive President, International Business Development of Ananda Group of companies. He has more than 15 years of working experience with the then Trade Development Board of Singapore (the "TDB"). His last appointment with TDB was Head of China Operations; (iii) his assistance in overseeing the day-to-day activities of the Group's business since 23 August 2011; and (iv) the difficulty faced by the Company to engage suitable candidates in light of the recent developments.

Mr. Ko will be overall in-charge of the Group and will be responsible for its business strategies and direction, corporate plans and policies and the general management of the Group, according to Scorpio East report.

The Executive Chairman of Athena Corporation Pte Ltd ("Athena"), which was co-invested with SEEDS Capital Pte Ltd in 2003. Prior to joining Athena, he was the executive President, International Business Development of Ananda Group of companies. He has more than 15 years of working experience with the then Trade Development Board of Singapore (the "TDB"). His last appointment with TDB was Head of China Operations.