Ohmyhome Ltd (OMH), a real estate service provider with a market capitalization of $123 million and impressive gross profit margins of 64%, has announced changes to its board of directors. According to InvestingPro data, the company currently faces profitability challenges, with revenues of $0.77 million in the last twelve months.
Effective last Thursday, Mr. Lee Wei Loon and Mr. Lim Khoon have resigned from their roles as director and chairs of the Audit Committee and Nominating Committee, respectively. The company has clarified that these resignations were not due to any disagreements with the company's operations or policies.
Following these departures, Ohmyhome has appointed Mr. Gang Ji as the new director and Chair of the Audit Committee and Mr. Henliyanto Ngadini as the director and Chair of the Nominating Committee. Their appointments were approved by the Board of Directors, the Nominating Committee, and the Compensation Committee last Thursday.
These appointments come at a crucial time as the company maintains a Fair financial health rating, according to InvestingPro's comprehensive analysis, which reveals 8 additional key insights about the company's performance and outlook.
Mr. Gang Ji brings with him a wealth of experience in finance and risk management, with a background that spans the United States and Asia. His resume includes a role as Vice President of Investment Banking at Shiyida Consulting Services and a stint as an Assistant Manager at Zhonghui Certified Public Accountants. Mr. Ji is also a member of the Chinese Institute of Certified Public Accountants and a certified Financial Risk Manager.
Mr. Henliyanto Ngadini is recognized for his expertise in software development and project management. He currently holds the position of Technical Director at Qurinom Solutions. His previous experience includes roles at PT IDstar Cipta Teknologi and Badr Interactive.
Both new appointees have no familial ties to any current directors or executive officers of the company and have not been involved in any transactions with Ohmyhome that would require disclosure.
The terms of their appointments continue until their successors are elected and qualified, with the possibility of annual re-appointment by the Board of Directors. Mr. Gang Ji will receive an annual compensation of US$18,000, while Mr. Henliyanto Ngadini will receive US$15,000, both payable on a yearly basis. These compensation figures come as the company operates with a current ratio of 0.1, indicating tight liquidity management will be a key focus for the new board members.
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