Friday, 5 March 2010

Teledata names Howard Kim new MD

IT company Teledata (Singapore) has appointed Howard Kim, who has more than 20 years of experience in the communications business, as its managing director.

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Guanyu 道 said...

Teledata names Howard Kim new MD

Appointment part of move to stem losses over last few years

By FELDA CHAY
04 March 2010

IT company Teledata (Singapore) has appointed Howard Kim, who has more than 20 years of experience in the communications business, as its managing director.

Mr. Kim, 48, fills a position that has been left vacant since its former chairman and managing director Quek Chek Lan quit last November. Mr. Kim has held various executive management positions in firms such as Sycamore Networks, Hypercom Pte Ltd and Cascade Communications (Lucent).

His appointment is the latest change to Teledata’s management and board as part of its move to stem the losses it has been making over the last few years. Teledata wants to regain its position in the industry and to tap new business opportunities for growth.

In November, Christopher Pan, ex-investment banker and head of Calypso Capital, stepped in as chairman and chief executive. It also appointed two new board directors that same month. Calypso Capital entered as a new controlling shareholder of Teledata after Mr. Quek sold it his stake in the company.

For the year ended Dec 31, 2009, Teledata reported a net loss of $7.9 million following its $2.4 million net loss in FY2008. FY2009 revenue plummeted 30 per cent to $17.9 million from $25.4 million.

Said Mr. Pan on Mr. Kim’s appointment: ‘Teledata is undergoing a renewal process to create a tighter, leaner ship. As we seek to renew and strengthen our position in the market place, expand our capabilities and leverage new business opportunities, the skills and expertise of our top executive management team will be a key factor.

‘As a veteran in the high-technology industries, Mr. Kim brings with him extensive experience, knowledge and network that we believe will be instrumental in bringing Teledata forward.’

In January, the group said that it is on the lookout for possible investments to expand its business in the region after it secured a $35 million equity line of credit from the GEM Global Yield Fund.

Yesterday, Teledata’s shares closed unchanged at 5.5 cents.