China Yuchai International Appoints New General Counsel and New Chief Financial Officer Begins Duties
19 November 2007 - 10:00PM
PR Newswire (US)
SINGAPORE, Nov. 19 /Xinhua-PRNewswire-FirstCall/ -- China Yuchai
International Limited (NYSE: CYD; "China Yuchai" or the "Company"),
the leading manufacturer and distributor of diesel engines in
China, today announced the appointment of Ms. Deborah Foo Shing Mei
as its new General Counsel with effect from December 10, 2007.
Deborah will take the place of Ms. Sheila Murugasu, the outgoing
Chief Legal Officer, who has served the Company in this position
since 2003. The Board of Directors wishes to thank Sheila for her
services and contributions to the Company as its Chief Legal
Officer. Ms. Murugasu will continue with her full-time role as the
Group Legal Counsel for Hong Leong Asia Limited, the holding
company of China Yuchai. Mr. Teo Tong Kooi, the President of China
Yuchai, commented, "We welcome Ms. Foo to join China Yuchai. She is
a seasoned professional with extensive experience in regulatory
compliance, intellectual property, merger & acquisition,
litigation, and corporate governance. Ms. Foo's expertise and
experience will strengthen China Yuchai's corporate infrastructure
and will immediately provide valuable insights to our executives
and legal teams in both Singapore and China. She will be a great
asset to the Company and our shareholders." Deborah has more than
10 years' of commercial and corporate experience gained from
various in-house positions in Singapore and Hong Kong. Prior to
joining China Yuchai, she held the positions of Vice President of
Group Legal and Company Secretary at Pacific Internet Limited
(NASDAQ: PCNTF; or "PacNet"). During her tenure at PacNet, Deborah
provided strategic legal and regulatory advice to PacNet's business
operations across the group in seven countries, ensured compliance
with Singapore, NASDAQ and SEC regulations and was actively
involved in and advised the Board on a number of high-profile
transactions. Ms. Foo holds a BA (Hons) in Law and History and a
Masters of Law degree in Commercial and Corporate law. She is a
Barrister-at-Law (Middle Temple) and is admitted as an Advocate and
Solicitor in Singapore. China Yuchai also announced Mr. Ho Tuck
Chuen has begun his duties as its new Chief Financial Officer. Mr.
Ho commented, "I am aware of the challenges facing China Yuchai and
believe I can make a positive impact by working closely with our
China production and operating team and Singapore corporate team.
My broad accounting and management experience will be an asset to
help resolve certain issues as we build value for our shareholders.
As the leading company in the fast-growing Chinese diesel engine
market, China Yuchai has a solid foundation and the resources to
build upon its past successes." About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi
Yuchai Machinery Company Limited ("Yuchai"), engages in the
manufacture, assembly, and sale of a wide array of light-duty,
medium-sized and heavy-duty diesel engines for construction
equipment, trucks, buses, and cars in China. Yuchai also produces
diesel power generators, which are primarily used in the
construction and mining industries. With over 30 regional sales
offices and 460 authorized customer service centers, the Company
distributes its diesel engines directly to auto OEMs and retailers
and provides maintenance and retrofitting services throughout
China. Founded in 1951, Yuchai has established a reputable brand
name, strong research & development team and significant market
share in China with high-quality products and reliable after-sales
support. In 2006, Yuchai sold approximately 284,000 diesel engines
and was consistently ranked No. 1 in unit sales by China
Association of Automobile Manufacturers. The Company's headquarters
are based in Singapore, Singapore. For more information, please
visit http://www.hlcorp.com.sg/cyi. Safe Harbor Statement This news
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate," "project," "targets,"
"optimistic," "intend," "aim," "will" or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that could
be deemed forward-looking statements. These forward- looking
statements are based on current expectations or beliefs, including,
but not limited to, statements concerning the Company's operations,
financial performance and, condition. For this purpose, statements
that are not statements of historical fact may be deemed to be
forward-looking statements. The Company cautions that these
statements by their nature involve risks and uncertainties, and
actual results may differ materially depending on a variety of
important factors, including those discussed in the Company's
reports filed with the Securities and Exchange Commission from time
to time. The Company specifically disclaims any obligation to
update the forward-looking information in the future. For more
information, please contact: Kevin Theiss / Dixon Chen The Global
Consulting Group Tel: +1-646-284-9409 Email: DATASOURCE: China
Yuchai International Limited CONTACT: Kevin Theiss, The Global
Consulting Group, +1-646-284-9409, or ; or Dixon Chen, The Global
Consulting Group, +1-646-284-9409 or , both for China Yuchai
International Limited
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