By Ben Glickman
Singapore-based e-commerce and fintech company, Society Pass, has announced the appointment of Raynauld Liang as its new chief executive officer. Liang, who previously served as the company’s chief financial officer, will take over from former CEO Dennis Nguyen. Nguyen’s resignation, according to Society Pass, was not due to any disagreement with the company.
Liang brings a wealth of experience to his new role. He has led the investment function of L K Ang Corporate and founded Connex Capital, an IPO-focused advising company. In addition, Liang served as the CFO of Sino Environment Technology Group from 2007 to 2010.
Society Pass has also appointed Yee Siong Tan as its new CFO. Tan, who previously held the position of controller, has a diverse finance background. He was the financial controller for ISOTeam, a construction engineering company, and served as finance manager for Hoe Leong Corp., a shipping and equipment supplier.
As part of their new roles, Liang will receive an annual base salary of $600,000, while Tan will receive $150,000 per year. Both executives will also be eligible to participate in Society Pass’s bonus plan.
In addition to these executive appointments, Society Pass has entered into a structured financing agreement with Strattners to sell up to $40 million in shares. Under this agreement, Strattners will have the option to purchase shares at 96% of the current market price.
