TAIPEI, Oct. 30, 2013 /PRNewswire/ -- GigaMedia Limited
(NASDAQ: GIGM) announced today the addition of Alfred Wong to its board as an independent
director. Mr. Wong brings to GigaMedia extensive experience in
regional business development and mergers and acquisitions.
"Over the past several years, we have added eight new board
members to oversee the restructuring of GigaMedia and execution of
new strategic growth plans," stated GigaMedia Limited Chairman of
the Board Mo-Na Chien. "Our focus is now on driving growth, and
Alfred will play an important role."
"Alfred has an exceptional record of helping Asian businesses
grow through joint ventures, investments, and mergers and
acquisitions," stated GigaMedia Chairman of the Board Mo-Na Chien.
"His vision, skills and leadership will be instrumental in creating
a strong new GigaMedia."
"GigaMedia has new businesses, a new management team and board,
and deep financial resources," stated Alfred Wong. "We are poised to create
significant value through organic growth and strategic transactions
and I look forward to working closely with the team on its exciting
plans in online games and cloud computing."
Alfred Wong currently serves as
the managing director of CLJ Capital Management Co. Limited, a
Shanghai-based private equity
firm. He is also non-executive director of Philippine Grains
International Corporation, owner and operator of the largest grain
terminal in the Philippines.
Previously, he was an advisor to Chailease Holding Co Ltd. From
2006 to 2011 Mr. Wong was the director of development for one of
the largest agricultural product providers in the Philippines, La Filipina Uy Gongco
Corporation, where, among other transactions, he advised the
company and a consortium of strategic investors and private equity
firms on a bid for the largest food company in the Philippines. Prior to that, he served as
an advisor to MatlinPatterson Global Advisers, a global private
equity firm focused on distressed investments with $8.9 billion of assets under management, and was
a partner at Pareto Partners, a joint venture with Hong Kong-listed Golden Resources Group
(677.HK) to develop Vietnamese infrastructure. Mr. Wong was interim
chief financial officer at Petrocom Energy Limited in Hong Kong in 2005; prior to that he held
multiple senior management positions at AIF Capital Limited,
Hong Kong, an Asia-based private equity firm with over
$1.3 billion in assets under
management where he handled transactions involving a wide range of
industries. He began his career at Emerging Markets Partnership,
Hong Kong, the predecessor to EMP
Global, principal advisor to the AIG Asian Infrastructure Funds,
two funds totalling $2.7 billion,
where he helped grow and list in Hong
Kong one of the largest toll road companies in mainland
China. Mr. Wong earned a master's
degree from the Leonard N. Stern School of
Business at New York University and a bachelor's degree in
management/economics from Ateneo De Manila University in
the Philippines.
Mr. Wong replaces board director Nancy
Jing-Ying Hu Zee, who has resigned to pursue other
interests. Following the addition of Mr. Wong announced today,
GigaMedia's board is comprised of eight members, a majority of
which are independent.
About GigaMedia
Headquartered in Taipei,
Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is
a diversified provider of online games and cloud computing
services. GigaMedia's online games business develops and operates a
suite of games in Taiwan and
Hong Kong, with focus on
Web-based/mobile games. The company's cloud computing business is
focused on providing SMEs in Greater
China with critical communications services and IT solutions
that increase flexibility, efficiency and competitiveness. More
information on GigaMedia can be obtained from
www.gigamedia.com.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in April 2013.
For further information contact:
Brad Miller, Investor Relations
Director
Tel: +886-2-2656-8016
Brad.Miller@GigaMedia.com
SOURCE GigaMedia Limited