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CHANGES IN BOARD OF DIRECTORS & NOMINATING COMMITTEE
The Board of Directors of Stratech Systems Limited (the "Company") is pleased to announce the appointment of Mr. Christopher Alexander Millar as a non-executive director of the Company.
The Company considers Mr. Christopher Alexander Millar to be a non-independent director of the Board.
Mr. Millar currently holds the position of President and Chief Executive Officer of Diginerv, Inc., a company based in the United States of America in the business of supplying advanced IT products.
Prior to joining Diginerv, Inc., he formed an international consulting firm to advise clients on international finance and investment/business opportunities with a focus on cross-border business opportunities between North America and Asia.
Mr. Millar's extensive experience in the field of banking, insurance and regulatory matters has enabled him to establish relationships in both regions. He was a Banking Policy Expert for the Asia Development Bank (ADB) assigned to review and report on regional integration of the financial markets within Asia after the currency crisis in 1997/1998, providing valuable recommendations to the ADB in their efforts to develop an intra-regional financial market. His work involved collaborating with the central banks of developed and developing Asian countries and international banks operating within the region.
During his tenure (from June 1998 to January 2002) as President and Chief Executive Officer of Argent Capital Corporation, a NASDAQ-listed corporation, he developed a business model which has since been adopted by several large financial institutions in the US. The business model was based on a combination of his international experience in the benefits of increasing both fee-based revenue and the provision of the full range of financial services, i.e. banking, insurance and securities.
Prior to joining Argent Capital Corporation, between November 1995 to June 1998, Mr. Millar was the Managing Director of Bankers Trust Company. Based initially in New Zealand and then in Hong Kong, he was responsible for the bank's structured and project finance operations in Asia. As head of the structured and project finance group in Asia he worked with a number of investment bankers throughout the region. He was directly involved in the restructuring of banking and finance laws and regulations in various countries during the 1997/1998 Asian currency crisis, and was appointed by three Asian governments as advisor on various banking and financial reform projects in combination with the implementation of various transactions. In 1998, he was nominated for and listed in the Asian Finance "Who's Who in Banking and Finance" for his work in securitisation and banking reform.
Mr. Millar had also held many other prestigious positions in renowned financial institutions such as Executive Director, Capital Markets, in Bancorp Capital Markets, Ltd in New Zealand; Manager for Securitisation for Asset Underwriting Pty. Ltd in Sydney, Australia; General Manager Commercial Banking for United Bank in New Zealand, to name a few.
With Mr. Millar's extensive knowledge and experience in business and his network of established worldwide contacts, the Board is confident that the Company will benefit from his contribution.
The Board of Directors of Stratech Systems Limited (the "Company") is also pleased to announce the appointment of Mr. Steven Lim Kok Hoong as member of the Nominating Committee with effect from 30th September 2003.
The Nominating Committee would, with effect from 30th September 2003, comprise the following members:-
Prof. Hang Chang Chieh
Dr. Kennedy Chew Khien Mien
Mr. Steven Lim Kok Hoong
By Order of the Board
About Stratech Systems Limited
Stratech Systems Limited ("Stratech") is an emerging world-class Advanced Technology and e-Systems developer. Stratech delivers large-scale real-time mission critical systems for Governments and Businesses in the Homeland Security / Defense, Transportation and e-Business / e-Government markets. Stratech brings together world-class expertise, software, intellectual assets and unique technology capabilities in the areas of Computer / Intelligent Vision, intelligent Transport Systems (iTS) and e-Systems to enable her customers to meet existing and future operational challenges, gain significant strategic advantage and seize new business opportunities. Stratech focuses on providing products and solutions to real-world challenges where traditional IT technologies are inadequate. Stratech's "Connected Reality" solutions exploit state-of-the-art Info-Comm Technologies that connect the Net and the real-world more effectively and transparently, thereby enabling customers to leverage on the power of the Net to solve difficult real-world challenges.
Formed in 1989, Stratech has established an impressive track recording serving customers in industries such as Government, Homeland Security, Defense, Transportation (land, air and sea), Aerospace, Healthcare and Financial Services. Stratech is recognised as a leader in innovation and technology, is extremely entrepreneurial, developing and implementing advanced technology solutions that achieve significant business transformation and competitive advantage for its customers.
Listed on the Main Board of the Singapore Exchange, Stratech is headquartered in Singapore and targets markets in Asia, the Middle East, Australia, Europe, North and South America.
For more information, please contact:
Corporate Communications Division
Tel: +65 6799 6650
Fax: +65 6323 2177