Chan Meng Chun
About Chan Meng Chun
Chan Meng Chun, age 53, was appointed Executive Director of Treasure Global Inc. (TGL) on September 26, 2025, after previously serving as the Company’s Chief Financial Officer and Financial Controller . He holds an Advanced Diploma in Accounting (Institute of Financial Accountants, UK, 2007) and a Master’s in Finance and Accounting (University of Wales, 2014), and is a fellow of both the Institute of Public Accountants (Australia) and the Institute of Financial Accountants (UK) . Prior roles include CFO and senior treasury/finance positions at Ikhasas Group, Sime Darby Plantation, Smart Glove Holding, TS Global Network (PT Telkom Indonesia), Pasukhas Group, and Carimin Group, with a focus on IPO readiness, restructuring, cashflow turnarounds, and MFRS adoption .
Company performance context during his tenure transition:
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenues (USD) | $69,408,319 | $22,066,829 | $2,330,557 |
| EBITDA (USD) | -$10,128,383* | -$5,945,075* | -$5,164,183* |
| Net Income (USD) | -$11,727,711* | -$6,586,623* | -$23,377,488* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ikhasas Group | Chief Financial Officer | May–Sep 2022 | Led corporate finance (IPO readiness, fundraising, banking, tax/accounts) . |
| Sime Darby Plantation Bhd | Head of Group Treasury | Jan–May 2022 | Managed group cashflow, facilities, intercompany reconciliation, budgeting/reporting . |
| Smart Glove Holding Sdn Bhd | Group Deputy CEO/CFO | Jul 2020–Feb 2021 | Reorganization, IPO preparation, financial planning/treasury . |
| TS Global Network (PT Telkom Indonesia) | Chief Financial Officer | Nov 2015–Jun 2020 | Cashflow turnaround, successful MFRS adoption . |
| Pasukhas Group Bhd | Chief Financial Officer | Apr 2013–Nov 2015 | Public company finance leadership . |
| Carimin Group of Companies | Group Financial Controller | May 2000–Aug 2012 | Group finance leadership . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| TS Global Network (PT Telkom Indonesia group) | CFO | 2015–2020 | Member company of PT Telkom Indonesia . |
| Sime Darby Plantation Bhd | Head of Group Treasury | 2022 | Public listed palm oil company (upstream/downstream) . |
Fixed Compensation
| Component | Terms |
|---|---|
| Base Salary | RM10,000 per month under Executive Employment Agreement . |
| Cash Allowances | Not disclosed for Chan Meng Chun in the 2025 agreements (CEO allowances disclosed separately; not applicable here) . |
| Director Fees | Not disclosed for Executive Director; director fees disclosed for certain independent directors (e.g., RM3,000/month for Datin Nurfatin) . |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual/Payout Mechanism | Vesting/Trigger |
|---|---|---|---|---|---|
| Equity compensation (monthly issuance) | Company VWAP determines share count | N/A | $120,000/year | Issued pro‑rated monthly based on VWAP; number of shares varies with market price . | Ongoing monthly issuance during employment . |
| Equity incentive grant | Service completion | N/A | 199,912 common shares | Aggregate shares to be issued upon completion of 3 months of service . | Vesting/issuance after three months of service from 09‑26‑2025 (trigger around late Dec 2025) . |
| Bonus/Options | — | — | — | No bonus or option awards disclosed for Chan Meng Chun in 2025 filings . | — |
Equity Ownership & Alignment
| Data Point | Value/Detail |
|---|---|
| Total beneficial ownership (common shares) | 372,326 shares as of Record Date Nov 12, 2025 . |
| Ownership % of shares outstanding | 2.20% (16,962,004 shares outstanding) . |
| Vested vs unvested | Vesting detail not itemized in ownership table; separate service‑based grant of 199,912 shares scheduled upon 3 months completion . |
| Additional equity accrual | Ongoing monthly share issuances tied to VWAP under $120k annual equity compensation . |
| Pledging/hedging | No pledging or hedging disclosures found for Chan Meng Chun in the cited filings . |
| Ownership guidelines | No executive stock ownership guidelines disclosed in cited 2025 filings . |
Employment Terms
| Term | Detail |
|---|---|
| Appointment & Effective Date | Executive Director; Effective September 26, 2025 . |
| Agreement Term | Initial term through first anniversary; automatic renewal for an indefinite period unless 120‑day non‑renewal notice given . |
| Termination Notice | Either party may terminate with 120 days’ written notice; employer may pay proportionate salary in lieu of notice . |
| Non‑compete/Non‑solicit | 6‑month post‑termination restriction on competing and solicitation, with confidentiality obligations surviving . |
| Governing Law | Malaysia . |
| Compensation Currency & Modality | RM10,000/month salary; equity compensation in TGL common shares pro‑rated monthly based on VWAP; additional 199,912‑share grant after 3 months . |
Board Governance
- Role and independence: Chan Meng Chun serves as Executive Director (appointed Sept 26, 2025) . TGL has previously classified employed directors (e.g., CEO and Executive Director) as not independent under Nasdaq rules due to employment by the company , implying Chan’s executive status would similarly preclude independence.
- Committee roles: 2024–2025 filings identify committee chairs/members—Audit Chair: Leong Wei Ping (Aug 29, 2024); Compensation Chair: Wai Kuan Chan (Sep 6, 2024); Anand Ramakrishnan held Compensation Chair (Sep 3, 2024) before resigning Sep 20, 2024 . Chan Meng Chun is not listed as chair or member of Audit/Compensation/Nominating committees in the cited filings .
- Board service history: Signed as Director on 2025 10‑K signature page; contemporaneous directors include Carlson Thow (CEO), See Wah “Sylvia” Chan (CFO), Kok Pin “Darren” Tan, Wei Ping Leong, Wai Kuan Chan, and Chan Meng Chun .
Director Compensation
| Component | Detail |
|---|---|
| Independent director fees (reference) | RM3,000/month for Datin Nurfatin (Independent Director appointed Oct 22, 2025) . |
| Executive director fees | Not separately disclosed; Executive Director compensation is via salary and equity per employment agreement . |
Related Party & Risk Indicators
- Governance turnover: Multiple board changes in 2024 (independent directors Bobby Banks, Jeremy Roberts resigned; committee chairs updated) .
- Nasdaq compliance actions: Reverse splits in Feb 2024 (1:70) and Apr 2025 (1:50) to address bid‑price compliance; regained compliance post‑actions . These actions increase authorized but unissued shares and may contribute to dilution risk .
- Cybersecurity: May 2025 domain/DNS/email configuration incident; no evidence of data exfiltration; operations stabilized with security enhancements .
Investment Implications
- Alignment: Equity‑heavy pay (monthly VWAP‑linked share issuance and 199,912‑share service grant) increases Chan’s ownership exposure and can align incentives with shareholders . However, continuous issuance tied to VWAP escalates dilution sensitivity for existing holders .
- Retention & execution: 120‑day notice and 6‑month non‑compete provide moderate retention and transition protection . Chan’s turnaround/treasury background is relevant given TGL’s revenue contraction and losses, potentially supporting cashflow discipline .
- Dilution/structure: TGL’s use of equity for services (e.g., partner/service agreements) and repeated reverse splits underscore financing constraints and dilution risk .
- Performance backdrop: Revenues declined materially FY2023→FY2025 while EBITDA and net income remained negative, raising execution risk and emphasizing the need for disciplined capital allocation and monetization of platform assets (see performance table above) .
Notes and Sources
- Executive appointment and compensation details: .
- Biography, education, prior roles: .
- Beneficial ownership: .
- Governance and committees: .
- Reverse split and Nasdaq compliance context: .
- Cybersecurity incident: .
- Financial performance (revenues; EBITDA; net income): FY 2023–2025 values from S&P Global via GetFinancials, with cited revenues and EBITDA/net income marked with asterisks and S&P Global disclaimer.