Malaysian mobile company XOX's managing director resigns

Datuk Chai Woon Chet, the managing director of Malaysian mobile virtual network operator XOX, has resigned from his position. According to the Bursa filing, he stepped down "due to other personal commitment which require his full attention". He was appointed to the role in January 2014 and was previously the marketing manager of Sanbumi Sawmill.

Following his resignation, XOX appointed Ng Kok Heng and Tan Sik Eek as executive director and independent director respectively. Ng was previously the managing director and CEO of XOX from June 2010 to December 2013. While he retired from his role as managing director in 2013, Ng continued on as CEO. He is also a consultant to Swedish telco Teligent AB, and has worked with key players in various Southeast Asian countries such as Telekom Malaysia, Singapore Telecommunications and Smart Communications Inc.

Meanwhile, Tan has more than a decade of experience ranging from corporate finance advisory to private equity investments. He was previously a partner at Beijing-based private equity firm House of Qin. Before that, he was Southeast Asia partner of Kuala Lumpur-based advisory firm Value Creation Strategies.