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Aspen installs Oxley CEO as nonexecutive director

Aspen (Group) Holdings Ltd. added Ching Chiat Kwong, executive chairman and CEO of Singaporean developer Oxley Holdings Ltd., as a nonexecutive director, effective May 25.

At the same time, deputy CEO of Oxley, Low See Ching, was named Kwong's alternate, Oxley said in a release.

The designation comes after Oxley acquired a 10.07% stake in its Malaysian peer for about S$23.3 million.

As of May 25, US$1 was equivalent to S$1.34.