CFO makes sudden resignation from MySQUAR

Myanmar-language social media, entertainment and payments platform MySQUAR announced on Tuesday that Pham Dang Hung has stepped down from his role as chief financial officer of the company and as an executive director from the board of directors with immediate effect, to pursue other interests.

The AIM-traded firm said it was intended that Pham would be available as a consultant to MySQUAR over a transitionary period, assisting Lim Ming Shing, who had been appointed as financial controller of the company - a non-board role, effective immediately.

Lim would assume responsibility for the financial management and reporting, and would report to chief operating officer Stephen Chong

The board said Lim is a fellow member of the Association of Chartered Certified Accountants and was previously regional financial controller for an operating subsidiary of an unnamed NYSE-listed business.

A search for a replacement to Pham had been initiated, with further announcements to be made in due course.

“Both myself and the board appreciate Hung's contributions over the last four years and wish him well in his future endeavors,” said CEO Eric Schaer.

“With Hung's support and commitment, MySQUAR has evolved from a start-up organisation into a publicly listed company with a strong foundation for future growth.

“The board and I remain committed to continuing to move our business forward and evolving our products as a leading media and entertainment platform in Myanmar.”