Key Management

Mr Francis Lai ("Mr Lai") has over 26 years of experience in various finance-related roles. He joined the Group in 2011 as Senior Finance and Business Development Manager and was involved in the Group's listing on the SGX-Catalist Board. He was promoted to Chief Financial Officer of the Group in 2014 and was appointed as Company Secretary in 2017. On 3 December 2024, he was appointed as a member of the BSC.

Mr Lai is responsible for the Group's finance functions and strategising its growth. He also develops the Group's risk management policies, internal controls procedures and manages its insurance policies. Additionally, he oversees the Group's merger and acquisition ("M&A") processes as part of the its business expansion plans, having successfully led and completed several M&A deals that contributed to increased revenue. Prior to joining the Group, he spent 11 years in the semiconductor industry, taking on a wide spectrum of finance and accounting roles in financial and management accounting and M&A.

Mr Lai started his career as an entrepreneur in the education industry while pursuing his Bachelor of Arts degree in the National University of Singapore where he graduated with an Honours degree in Arts specialising in Japanese Studies. He is a Fellow Chartered Accountant of Singapore (FCA Singapore), a Fellow of the Association of Chartered Certified Accountants (FCCA) and a member of the Singapore Institute of Directors.

Mr Richard Chung ("Mr Chung") joined the Group as a Sales and Marketing Executive in 1995 and has served in various capacities, including Sales and Marketing Manager and Divisional Director (Systems and Projects). In his previous role as Head of Systems and Projects, he led the Group's project teams, including General Managers (Projects) and Project Managers, ensuring that projects were properly planned, adequately resourced and delivered in accordance with the commitments. He also possesses extensive knowledge of Energy Management System (EMS).

On 1 October 2018, he was promoted to Director of Research & Development, where he is responsible for the development and design of the new generation heatexchangers and the technology behind the Group's "Eden" brand of products. He leads innovation in thermal performance, specialising in optimised surface areas for fin tubes, fluid dynamics and oversees the design of efficient heat-exchangers for HVACR; focusing on enhanced heat transfer, uniform distribution of liquid-vapour mixtures, reduced air-side pressure drop and improved manufacturing techniques. He is currently leading a team in the development of heat-exchangers and compressor packs using environmentally friendly refrigerants that include natural gases like carbon dioxide (CO2) and ammonia (NH3) to meet new regulatory requirements to reduce greenhouse gases that cause global warming.

Mr Chung obtained his degree in Bachelor of Science (Physics) from the National University of Singapore in 1993.