Managing director of Melbourne-based distributor Digiland, CN Low, has resigned following disappointing results from the Australian division of the Singapore-based company.
Chief marketing officer and regional director for South-East Asian operations, Khoo Teng Liat, has been put in place as the local caretaker for the company whose parent listed on the Singapore stock exchange in March 2002.
Digiland faced embarrassment in November last year when stripped of its Genuine Gold Seal distributor status after being caught parallel importing Epson cartridges. This contravened its trading terms and conditions. Its HP printer business is also strongly rumoured to be suffering significantly at the hands of larger, broad-based distributors in the midst of a raging price war.
Digiland's share price in Singapore has been in decline since it launched last year at $S0.25 ($0.234). It has fallen to as low as S$0.09 ($0.084) in recent trading.
The company's last reported full year earnings were $S6.7 million ($6.27m) on turnover of $S949 million ($888.75m) for the 12 months ending June 30 2002. Its half yearly report to December 31, 2002 saw a loss of $US2.697 million ($4.375m) on turnover of US$265.9 million ($431.36m).
No one at Digiland Australia was available for comment at the time of publishing but sources within the company confirmed that Low had resigned and that Khoo Teng Liat was running the company in the interim.
A permanent replacement was being sought and would be announced in the future, the source said.
Digiland distributes for a wide range of vendors including Acer, Adaptec, AMD, BenQ, Canon, Fujitsu, HP, Kodak, Linksys, Maxtor, MSI, Maxtor, NEC, Powerware and Western Digital.