Business Context and Reporting Period
This Form 6-K filing by Multi Ways Holdings Limited covers the month of March 2024. The report primarily addresses a change in senior financial management, specifically the resignation of the Chief Financial Officer and the appointment of a new Financial Controller.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Resignation of CFO: Ms. Lee Pei Pei (Nancy) resigned as Chief Financial Officer effective March 12, 2024. The resignation was for personal reasons and not due to any disagreement regarding financial or accounting operations.
- Appointment of Financial Controller: Mr. Tan Noon Huan was appointed as Financial Controller effective February 20, 2024. He is an employee and not a member of the Board.
- Compensation: Mr. Tan Noon Huan entered into an employment agreement effective March 1, 2024, with an annual salary of S$108,000 (approximately $80,400).
Outlook, Risks, and Management Commentary
Management highlights Mr. Tan Noon Huan's over 20 years of experience in finance and accounting, including roles as an external auditor and Head of Finance. His background includes financial reporting, budgeting, cash flow management, and internal control implementation. The filing states there are no family relationships between Mr. Tan and any director or executive officer, and no reportable transactions exist under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of the CFO resignation (March 12, 2024) and the interim period coverage.
- Confirm the qualifications and background of the new Financial Controller, Mr. Tan Noon Huan.
- Review the terms of the new employment agreement, specifically the annual salary of S$108,000.
- Check for any subsequent filings regarding the appointment of a permanent Chief Financial Officer to replace the resigned executive.