NOVA MSC Bhd has roped in Singapore businessman Sunny Loh Guan Huat as its executive chairman with effect from April 1.
According to a Bursa Malaysia filing, the company has re-designated its Australian chairman Peter Wayne Thompson, 65, to the post of new deputy chairman to accommodate Loh’s appointment.
Group CEO Lai Teik Kin expects Loh, 58, to bring fresh insights and momentum in accelerating the execution of our strategic priorities to target sustainable growth.
“We are excited to welcome Sunny Loh aboard as our Chairman,” he commented.
“His vast experience in investment, merger & acquisition (M&A) and finance coupled with his extensive network of business contacts in Asia Pacific region will be a tremendous asset to the group.”
Presently, Loh is serving as the non-executive chairman of Dex-Lab Pte Ltd, a 60%-owned subsidiary of Nova MSC. He owns the remaining 40% stake.
In May 2020, the group entered into a shareholders’ agreement with Loh in collaboration on the development and marketing of artificial intelligence (AI)-related products and services in the robotics industry.
“The latest appointment marks a closer partnership between the two parties,” added Lai.
Loh’s credentials – both academic and professional – speak for itself. He obtained his Bachelor of Business Administration at National University of Singapore (NUS) and a Master in Business Administration (MBA) at University of Hull.
He is an Associate of Chartered Secretaries Institute of Singapore and Chartered Institute of Secretaries.
He is a non-executive Deputy Chairman of GBM Resources Ltd, a company listed on the Australian Stock Exchange, non-executive Chairman of Dex-Lab Pte Ltd, and a managing director of Swift Venture Holdings Corporation, an investment holding company specialising in investing undervalued companies and distressed assets in the Asia Pacific region.
Towards the end-2020, the Nova MSC has bagged a five-year contract from Singapore’s Integrated Health Information Systems Pte Ltd for the deployment of SELENA+, the first AI-product under the group.
In December 2020, the company was awarded a pilot trial contract for the supply, delivery, installation, testing and commissioning of a fully operational model checker of CORENET-X with an option for maintenance.
At 11.27am, Nova MSC was up 1 sen or 11.11% at 10 sen with 7.07 million shares traded, thus valuing the company at RM113 mil. – April 1, 2021
