New CFO part of executive shake-up at Donaco International

New CFO part of executive shake-up at Donaco International

Rebranded leisure and entertainment group appoints Richard Na Chun Wee as part of a reshuffle of its executive ranks following readmittance to the ASX

Leisure and entertainment group Donaco International (ASX: DNA) has recruited Richard Na Chun Wee as its new CFO. The appointment is the latest in a reshuffle of the company’s executive ranks following its rebrand and reinstatement to the ASX.

Na replaces CFO and company secretary Rointon Nugara, who is leaving the company after eight years to pursue career opportunities in Europe.

Na was most recently the head of international corporate finance for Kenanga Investment Bank in Kuala Lumpur, and was also formerly the investment director of Prime Partners Asset Management in Singapore. His resume includes a stint as vice-president of Malaysia Venture Capital, a wholly-owned subsidiary of the Ministry of Finance in Malaysia.

Donaco MD Joey Lim welcomed Na to the CFO’s post and said the two had worked closely together in the past.

“I am very pleased Richard has agreed to join us… given the number of significant growth opportunities that we are exploring,” he said.

Donaco also revealed the former CEO and MD of Donaco predecessor Two Way Limited from July 2007 to January 2012, Ben Reichel, is stepping in as company secretary. He has been a company director since 2007 and a former general counsel of Australian gambling group TAB.

The two executive appointments come a month after Lim assumed the MD’s role following the company’s re-admittance to the ASX on 1 February. The move followed the merger of Two Way with Donaco Singapore and rebrand to Donaco International.

Donaco operates leisure, entertainment and associated technology across the region including the flagship Lao Cai International Hotel in Vietnam, as well as the TAB Active TV wagering service in Australia in partnership with Tabcorp Holdings, Tatts and Racing and Wagering WA.

Lim said opportunities not only in Australia but also across Asia-Pacific made it an exciting time for the company.

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Tags CFO appointmentDonaco International

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