Loo will assume the role together with his current position of executive director.

Pang Pok, CEO of GS Holdings 43a, will retire on Dec 12, according to a Dec 3 bourse filing. He will replaced by Loo Hee Guan as acting CEO. 

Loo will assume the role together with his current position of executive director, which is responsible for the business rationalisation and development of the group.

With his new appointment, Loo will oversee the group’s corporate affairs to lead and drive restructuring plans, investors relations, compliance and corporate governance, says GS Holdings. Loo will also be responsible for the overall business operation of the group. 

Pang, his predecessor, has served as the group’s CEO for nine years. He was appointed as GS Holdings’ CEO on Dec 17, 2015. 

As CEO, Pang oversaw the group’s overall management, including operations, and setting directions for new growth areas and developing business strategies. 

Shares in GS Holdings closed 0.1 cents higher, or up 2.13%, at 4.8 cents on Dec 3.