Dyna-Mac dismisses Lim Ah Cheng as chairman and CEO

The company will be overseen by the directors and the management team.

Dyna-Mac has announced the termination of Lim Ah Cheng as executive chairman and chief executive officer (CEO) with effect from 16 December.

The termination follows Dyna-Mac's business review conducted after the close of Hanwha's voluntary conditional cash offer.

In a bourse filing, Dyna-Mac said that “there are no unresolved differences in opinion on material matters between Mr. Lim and the board of directors including matters which would have a material impact on the group or its financial reporting.”

However, the payments due to Lim upon the termination of his employment are currently under discussion and will be finalised between the company and Lim in due course.

Dyna-Mac also said that the day-to-day management and operations of the Group shall continue to be overseen by the directors and management team of the Company.

Lim was appointed as Dyna-Mac's chairman and CEO in March 2020, following the unexpected passing of the company's founder, executive chairman, and then-CEO, Desmond Lim, in October 2019.

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