SYF Resources appoints Tan as executive director

PETALING JAYA: SYF Resources Bhd has appointed Datuk Tan Choon Peow (also known as Datuk Bill Tan), 52, as its executive director.

In a filing with Bursa Malaysia, the furniture and rubberwood components manufacturer said Tan is currently also the executive director, corporate finance of M&A Securities Sdn Bhd, having been appointed to its board of directors on March 18, 2013.

Starting his career in 1993 as an audit assistant with KPMG Peat Marwick, Tan possesses about 20 years of experience in accounting and corporate finance.

He was involved in various restructuring, initial public offering, fundraising as well as merger and acquisition activities.

In December last year, SYF Resources had received conditional approval from the Securities Commission for a reverse takeover by M&A Securities, the stockbroking arm of Insas Bhd, which will see it acquiring 100% of M&A Securities for RM222mil.

This will be satisfied through the issuance of 1.01 billion SYF Resources shares to Insas at 22 sen each.

SYF Resources closed at 32 sen yesterday.

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