DEPA’S DESIGN STUDIO GROUP APPOINTS KU WEI SIONG AS CEOSep 27 ,2015
Singapore; 27 September 2015: Design Studio Group (“DS”), the Singapore-based subsidiary of Depa Limited, has announced the appointment of Ku Wei Siong as its new Chief Executive Officer. He will be responsible for the operations and strategic direction of DS, while also being part of Depa’s Executive Management team in charge of the Far East / Asia region.
Mr Ku joins Singapore’s leading premier furniture manufacturer, product and interior fit-out specialist during a time of significant growth. DS’ revenues in the first half of 2015 increased by 62.7% to reach S$93.9 million (AED 57.7m), primarily due to the strong performance of its residential, hospitality and commercial divisions. The company also won a significant contract in the United States earlier this year, a major order to supply kitchen and vanity cabinets to 626 First Avenue, a 756-unit luxury residential development along New York City’s East River.
Nadim Akhras, Group CEO, Depa, said: “DS is a fast growing company and a vital component of Depa’s Asia diversification strategy. Following a rigorous search and evaluation process, Mr Ku emerged as the outstanding candidate to lead this key Depa subsidiary. His business acumen, leadership skills and real estate experience will be invaluable as DS continues to realise its growth potential.”
Mr Ku joins DS from CapitaLand GCC Holdings, where he was senior vice president with responsibility for investments and joint ventures in the Middle East, including positions as the CEO of Mubadala CapitaLand Real Estate LLC and fund manager and director for RCB Fund. Previously, he has also held senior management positions with Oracle Asia Pacific, Sun Microsystems Asia South and Arthur Anderson. Mr Ku obtained a Master of Business Administration and a Bachelor of Engineering (First Class Honours) from the National University of Singapore.
Ku Wei Siong, CEO of DS, said: “Both at home and abroad, DS continues to set the standards for the furniture manufacture and interior fit-out industry. I am honoured to have the opportunity to lead a truly exceptional company and I look forward to working with the outstanding team at DS as we take the business forward over the coming months and years.”
Mr Ku takes over from Bernard Lim Leng Foo, who stepped down from the company after 21 years of service.
Akhras added: “On behalf of the Depa Board, I would like to thank Mr Lim for his enormous contribution to the success of DS over more than two decades. We wish him well in his future endeavours.”
Headquartered in the United Arab Emirates and listed on NASDAQ Dubai, Depa specialises in the turnkey fit-out and furnishing of five star hotels and resorts, high-end retail stores and malls, luxurious offices, large scale infrastructure projects such as airports, villas, palaces, private jets and yachts around the world.
For further enquiries, please contact:
Tom Drummond or Liam Turner
Tel: +971 4 4507600
Tel: +971 4 4462100
For more information, please refer to the corporate website: www.depa.com