MFC Asset Management Appoints New President

2019-01-25 12:02 1708

BANGKOK, Jan. 25, 2019 /PRNewswire/ -- MFC Asset Management PLC, Thailand's first mutual fund management company, today announced the appointment of Dennis Chong-Boon Lim as its new President Mr Lim was previously the Co-CEO of Templeton Asset Management Limited, a wholly owned subsidiary of Franklin Resources Inc., a New York Stock Exchange listed S&P 500 company. He has more than 25 years of experience in the fund management industry. He managed and co-managed over USD 20 billion of emerging markets equity funds while at Templeton Asset Management Ltd. Working with renowned emerging markets guru Dr J. Mark Mobius, he was instrumental in building the Templeton Emerging Markets Group into one of the world's most respected emerging markets investors.

Mr. Dennis Chong-Boon Lim, President of MFC Asset Management PLC
Mr. Dennis Chong-Boon Lim, President of MFC Asset Management PLC

Mr Narongchai Akrasanee, Chairman of MFC Asset Management PC, said: "The board of MFC is very happy to confirm the services of Mr. Lim as our next President. He has a proven track record at Templeton and we are confident he will be able to replicate his earlier successes here at MFC."

Mr Sadawut Taechaubol, an MFC shareholder and board member said: "Our long-term goal is to turn MFC into a major regional player in the fund management industry. We believe the appointment of Mr. Lim is a good first step in that direction."

Mr Lim said: "I am very excited about this new challenge. MFC is Thailand's pioneer fund management company, so there is plenty of history. There remains significant scope for growing its businesses in Thailand and the opportunity to roll out operations in the rest of Southeast Asia is exciting. ASEAN has over 650 million hardworking people and the region continues to see rapid growth and rising income levels. If we execute well, it could provide MFC with very high growth beyond 2020."

Mr Lim will initially share responsibilities with incumbent President Ms. Prapa Puranachote. Ms. Puranachote will continue to oversee the Provident Fund Division until her retirement in June 2019 while Mr. Lim will assume responsibilities for the remaining divisions in MFC.

MFC is Thailand's first mutual fund management company. It was set up in 1975 as a joint venture between the International Finance Corporation and the Government of Thailand. It is currently one of the largest and most respected fund management companies in Thailand.

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Source: MFC Asset Management PLC
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