Straits Trading AAR: The Coast is clear!!

As a round up to the STCL saga, MYOB would like to report that Ms Chew Gek Khim has been appointed as the Non-Executive and Non-Independent Director of the Board of The Straits Trading Company Limited on 20 Mar 2008.

A little background on Ms Chew:

"Ms Chew, age 46, is the Executive Chairman and Chief Executive Officer of the Tecity Group of private investment companies, the controlling shareholders of the Company. A lawyer by training, Ms Chew graduated from the National University of Singapore and practiced law with the local law firm of Drew & Napier, before she joined the Tecity Group in 1987. She is also director of CapitaRetail China Trust Management Limited, a listed trust of the CapitaLand Group with retail malls in China, as well as FJ Benjamin Holdings Ltd, a fashion retailer in Singapore. Ms Chew is also the Deputy Chairman of the Tan Chin Tuan Foundation in Singapore and the Tan Sri Tan Foundation in Malaysia. She is active in community and public service, and serves on the boards of organizations such as Singapore Totalisator Board and National Heritage Board. She is also a member of the Advisory Board of the Faculty of Law at the National University of Singapore and Deputy Chairman of the National Environment Agency Board."

Currently, The Cairns hold 84.31 % of STCL. They are very close to the 90% mark but I hope they retain the listed status of STCL.

It has been a good ride with STCL. MYOB greatly admire the astuteness of Ms Chew. We wish her all the best in bringing out the hidden value in STCL. It would be interesting to see how things turn out over at Robinson.