Info-Tech Systems CFO Resigns Following SGX Mainboard Debut
Info-Tech Systems' CFO Gan Lai Thong announces resignation three months after company's SGX mainboard debut, marking a significant transition for Singapore's latest tech listing. Company assures stakeholders of smooth transition.
Info-Tech Systems headquarters in Singapore, where the company recently completed its SGX mainboard listing
Leadership Change at Singapore's Latest Tech Listing
In a significant development for Singapore's technology sector, Info-Tech Systems announced that its Chief Financial Officer (CFO), Gan Lai Thong, will step down from his position. The announcement comes just three months after the company's landmark listing on the Singapore Exchange (SGX) mainboard, which marked the first mainboard listing in Singapore in almost two years.
Resignation Details and Impact
According to the company's bourse filing on Tuesday (Oct 7), Gan will depart to "pursue his own personal interests," with his final day of service scheduled for December 31, 2025. The 62-year-old executive has served as CFO since May 2021.
In a move to maintain market confidence, Info-Tech Systems emphasized that Gan's departure is unrelated to any concerns regarding financial reporting, internal controls, or accounting practices. The company confirmed there are no disagreements that could impact its financial disclosures.
Market Response and Future Plans
The software-as-a-service provider, which has been at the forefront of Singapore's digital transformation initiatives, saw its shares close at S$0.89 on Tuesday, marking a S$0.01 or 1.1 percent increase before the announcement.
Info-Tech Systems has initiated the process of identifying a suitable replacement for Gan and will make an announcement once the new appointment is confirmed, maintaining transparency with stakeholders and regulatory bodies.
Wei-Ling Tan
Tech and economy specialist, covering innovation in Southeast Asia from Singapore for both English-language and regional media outlets.