Appointments of Singapore Fund Managers as Associate Directors by First Asia Holdings Limited

Hong Kong, Singapore, Canada, Nov. 12, 2013 (GLOBE NEWSWIRE) -- The Company is pleased to announce the appointments on 4 November 2013 of:

  • Mr. Michael Tay, Managing Director of Megatr8 as the Associate Director of First Asia Holdings Limited ("FAHL")
  • Mr. Chew Heng Hwee, Executive Director of Megatr8 as the Associate Director of Giant Management Corporation Limited ("GMC"), a wholly owned subsidiary of FAHL


Megatr8 is a Registered Fund Management Company (RFMC) in Singapore under the Securities & Futures Act, a niche multi-asset investment manager providing fund management services to our valued clients since 2008. The team has extensive experience managing investments in the traditional asset markets such as equities, fixed income, currencies and commodities. Currently the team is also actively building up our expertise in the areas of real estate and private equity investments

Profiles of Executive Directors of Megatr8

Michael Tay

BCA (Hons), Victoria University, Wellington NZ, Colombo Plan Scholarship MBA, UCLA, USA

Michael has 30 years of trading experience across assets classes in fixed income, equities, money markets, foreign exchange and commodities. In 2009, he left Citigroup Private Banking as a senior financial advisor to set up Megatr8. Prior to joining Citigroup Private Bank, Michael was SVP at DBS Bank where he helped set up and managed its commodities and Asian Currency Index desk. From 2004 to 2006, Michael headed the FX, Liquidity & Gold Division (Reserve Management Department) at the Monetary Authority of Singapore.

Michael started his career at OCBC in 1984 as a futures trader in SIMEX before pursuing an MBA at UCLA. After his MBA, he joined the Government of Singapore Investment Corp. (GIC) and managed an American Fixed Income portfolio while based in New York. Upon returning to GIC Singapore office, he managed a team of FX, money market and gold traders. Michael has also held various senior positions in CSFB, UOB Asset Management, Nationsbank and UBS focusing mainly on proprietary trading in various asset classes such as equities, fixed income, commodities and foreign exchange.

Chew Heng Wee

B.Eng (Hons) (Civil), Nanyang Technological University, Singapore

Heng Wee is a founding director of Megatr8. He last worked at Citicorp Investment Bank, providing sales-trading coverage on foreign exchange and currency options to traders in other financial institutions such as banks, private banks, and fund managers.

Heng Wee started his career at the Monetary Authority of Singapore. From 2005 to 2007, he was a Portfolio Manager in the FX, Liquidity & Gold Division (Reserve Management Department), managing Singapore's official foreign reserves portfolio through currency overlay. From 2000 to 2005, Heng Wee was with the Securities & Futures Supervision Department, where he set up MAS' market surveillance capability over securities trading activities on the Singapore Exchange (SGX). He was also involved in conducting investigation into alleged market misconduct activities under the civil penalty enforcement regime.

Successful Launch of HKIF by Megatr8

HKIF has been successfully launched in Singapore since early November 2013 and Meagtr8 will continuously inject up to HKD100 million into FAHL Group.

FAHL Management strongly believes that Megatr8 will bring in more professional investors to our Group for generating sustainable growth and paving the way for listing in the Hong Kong Stock Exchange.

CONTACT: Source:First Asia Holdings Limited