SIM Technology Group (SIM Technology or the Company; SEHK stock code: 2000) announced today the promotion of Raymond Tsang Hen Loon to Chief Executive Officer of the Hong Kong based wireless communications design and development firm. As CEO, Raymond will focus on charting the Company’s strategic direction, acting as chief spokesperson, and working to improve communications with all stakeholders to ensure that the Company’s vision and goals are clearly shared, understood and executed. In addition to his new role as CEO, he will continue to serve as an Executive Director on SIM Technology Group’s Board.
The Company recently released a strong interim earnings report, following its listing on the Hong Kong Stock Exchange’s Main Board, in June this year. The interim report showed the Company’s robust earnings for the first half of 2005, with turnover surging by 60% to HK$927 million and net profits by 125% to HK$110 million.
“Raymond has done a very a good job leading the Company, taking advantage of market opportunities and providing us with a very sound business direction in order to sustain our continuous expansion in the region, as well as in the international markets.” said C.T. Wong, President of SIM Technology.
“I am very happy about the Interim Results and I am too humble to say anything about my promotion. There are many challenges ahead for the company and we need to focus on devising and developing new designs and technological solutions to meet our customers’ needs. It will also be very important for us to continuously expand our services to international customers and I am extremely optimistic that we have the best talent to maintain this growth momentum moving forward.” said Raymond.
Holder of a BSc. in electrical engineering from the University of Wisconsin, Madison, and an MBA from the University of East Asia, Macau, Raymond is a prominent figure in the Asian electronics market, bringing more than 20 years of electronics industry experience to his new role. Prior to his latest appointment, Raymond was President for the Asia region of Avnet Electronics Marketing, where revenue more than doubled from US$600 to US$ 1.3 billion under his 3-year leadership.
Before Raymond’s role at Avnet, he was CEO of Sunrise Technology Ltd. Raymond played a key role in making the company viable and profitable prior its acquisition by Avnet in 2001. He then spear-headed the effective integration of the Sunrise and Avnet operations into a focused, independent sales and marketing entity.
