On Nov 23, Sunningdale Tech executive director and chief executive officer Khoo Boo Hor vested 200,000 share awards, increasing his direct interest in the company from 2.20 per cent to 2.29 per cent.

 

Prior to his appointment as CEO, he was the group operations director and was responsible for its manufacturing operations.

 

Mr Khoo played a significant role in integrating the operations of Sunningdale Precision Industries and Tech Group Asia following the merger of the two companies in July 2005.

 

Back on Nov 9, the group reported its Q3FY20 (ended Sept 30) gross profit increased 16.8 per cent to S$26.8 million, from S$23.0 million in Q3FY19 with the group' s gross profit margin increasing to 14.8 per cent in Q3FY20 from 12.5 per cent in Q3FY19.

 

Sunningdale Tech also recently completed the acquisition of US-based plastics manufacturer Moldworx, LLC, in line with its forward-looking plans to accelerate growth for its Healthcare segment, allowing the group to capture new business opportunities in the large US market.

 

This was in-line with Sunningdale Tech' s fundamental strategy of diversifying its customer base and expanding its product offering.

 

Mr Khoo noted with the results that as the group moves into the remainder of the year, it remained confident in its resilient business model and healthy balance sheet, as the long-term sustainability of its operations remains on track.

 

As of Nov 23, Sunningdale Tech non-executive chairman Koh Boon Hwee maintained a 15.56 per cent total interest in the company, while substantial shareholder Sam Goi maintained a 7.94 per cent total interest.