Singapore-based management consulting services provider Junee Ltd announced today the appointment of Kelly Ka Lee Lam as an executive director, effective immediately. The appointment was officially approved by the company's board on November 1, 2024.
Kelly Ka Lee Lam, aged 41, brings over 15 years of experience in the financial service industry to Junee Ltd. Her career includes positions of increasing responsibility with various organizations. She has been serving as an Executive Director at GBA Holdings Limited since July 2023 and as an Independent Director at Magic Empire Global Limited (NASDAQ:MEGL) since 2022. Lam's previous roles include Wealth Management Manager at AIA International Limited, Head of Operations at Black Marble Securities Limited, and Trading Support Specialist at Bank of America Merrill Lynch (NYSE:BAC).
Lam holds a Bachelor's degree in Business Accounting from Swinburne University of Technology and an Insurance Intermediaries Qualifying Examination (IIQE) License. She has no familial relationships with any current director or executive officer of Junee Ltd and has not been involved in any transaction with the company that would require disclosure under SEC regulations.
In her new role at Junee Ltd, Lam will receive an annual compensation of $48,000. This appointment is part of the company's strategic efforts to strengthen its executive leadership team.
The announcement comes as an amendment to Junee Ltd's original report on Form 6-K filed on November 1, 2024, where the company corrected the address on the cover page of the original filing. This adjustment and the appointment of Lam were disclosed in an amended report filed with the Securities and Exchange Commission today.
In other recent news, management consulting firm Junee Ltd has announced the appointment of Kelly Ka Lee Lam as an executive director. Lam, a seasoned professional in the financial service industry, brings over 15 years of experience to the leadership team of Junee Ltd. Her previous roles include significant positions at GBA Holdings Limited and AIA International Limited, as well as board positions at Magic Empire Global Limited.
In related developments, Magic Empire Global Limited has been granted an additional 180 days to meet Nasdaq's minimum bid price requirement, with a new deadline set for February 24, 2025. The extension is conditional upon the company adhering to other market value and listing standards. The company had previously communicated its plan to address the bid price deficiency, potentially through a reverse stock split.
It's important to note that if Magic Empire Global Limited fails to meet the compliance by the extended deadline, delisting from the exchange could ensue, although the company would have the option to appeal this decision. Magic Empire Global Limited is currently exploring various strategies to meet Nasdaq's requirements, highlighting recent developments within the company.
InvestingPro Insights
To provide additional context to Kelly Ka Lee Lam's appointment as an independent director at Magic Empire Global Limited (NASDAQ:MEGL), let's examine some key financial metrics and insights from InvestingPro.
MEGL's market capitalization stands at $10.33 million, indicating it's a micro-cap company. The firm has shown strong revenue growth, with a 67.75% increase over the last twelve months as of Q2 2024, and a 26.94% quarterly growth in the same period. This growth trajectory could benefit from Lam's extensive experience in the financial services industry.
However, InvestingPro Tips highlight that MEGL is not currently profitable, with a negative P/E ratio of -137.82 over the last twelve months. This suggests that Lam's expertise may be crucial in steering the company towards profitability.
Another InvestingPro Tip notes that MEGL's stock generally trades with high price volatility. This volatility is evident in the company's recent performance, with a significant 10.13% return over the last week, contrasted by a 22.73% decline over the past month.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips for MEGL, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.