Tiger Air

Tiger Air: appoints Koay Peng Yen as Group CEO wef 10 Aug ’12. Mr Koay will take over from Chin Yau Seng, who will be returning to SIA from this secondment. Mr Koay was Executive Director of Pacific Carriers and PaxOcean Egrg, Kuok Group companies involved in the marine and offshore engrg, offshore services and shipping industries. Prior to this, he was the Group CEO of IMC Corp, an industrial and supply chain group. He earlier spent 18 yrs with NOL in various senior mgt roles incl President of Greater China. Tiger has also proposed to appoint to the Board, Arthur Lang and Maurice de Vaz as Non-Executive Directors. Arthur is the Group CFO of CapitaLand. Maurice had prior senior mgt experience at SIA, SATS Apron Services and Singapore Flying College, and served as advisor to the CEO /Chairman of Qatar Airways, Pakistan Airways and Jet Airways. Technically, the stock is a potential breakout candidate after crossing the $0.70 support-turned-resistance. The key indicators are rising which bodes well for near term momentum. A further break of the $0.72 resistance would serve as confirmation of the longer term trend. However, a pullback to below $0.68 (cut loss level) would negate this view.