TRANSMILE GROUP BHD FOUNDER AND FORMER CEO JAILED AND FINED FOR FURNISHING MISLEADING STATEMENT

The Kuala Lumpur Sessions Court today found Transmile Group Bhd (TGB) founder and former Chief Executive Officer (CEO) Gan Boon Aun guilty of furnishing misleading statements to Bursa Malaysia. The statements concerned TGB’s financial statement in its Quarterly Unaudited Consolidated Results for the Financial Year Ended 31 December 2006, an offence under section 122B (a)(bb) of the Securities Industries Act 1983 (SIA) read together with section 122(1) of the same Act.Sessions Court Judge Tuan Hasbullah bin Adam announced the verdict this morning, and sentenced Gan to a fine of RM2.5million (in default of 18 months’ imprisonment) and one day imprisonment. The SC said it will be recommending to the Public Prosecutor to appeal against the sentence.

Ogilvy Appoints Tiwat Nitchote as Chief Strategy Officer in Thailand

Acknowledging the importance of strategy in business growth agenda, Nopadol Srikieatikajohn, Chairman of Ogilvy Thailand has appointed Tiwat Nitchote as Chief Strategy Officer for Ogilvy Thailand. In this newly created role, Tiwat will join forces with the existing management team to harness Ogilvy’s creativity to grow and transform not only brands, but entire businesses. He will focus on strengthening and streamlining Ogilvy Thailand’s strategic offerings to drive clients’ business towards Modern Marketing success.

PropertyGuru successfully raises S$300M to push growth in Southeast Asia

This investment comes at an extraordinary time for PropertyGuru: With 24% y-o-y revenue growth, PropertyGuru beat 2019 forecasts and continues to lead in Southeast Asia with 57% market share* (4x nearest player). PropertyGuru is the PropTech leader across all five markets in the region with its No. 1 marketplaces: PropertyGuru in Singapore and Malaysia, Batdongsan.com.vn in Vietnam DDproperty.com in Thailand, and Rumah.com and RumahDijual.com in Indonesia. Over the past year, business momentum and financial performance has been very strong across multiple key markets.