fastechsynergy.com/announcements/default.htm -
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Published on: 7/1/2008
Last Visited: 7/1/2008
Mr. Saturnino G. Belen, Jr. has been appointed as Chief Executive Officer.Mr. Belen is the Chairman of the Group since its start in 1983.He was also Chief Executive of the Group from 1983 up to January of 2004, when he relinquished the Chief Executive position but remained as Chairman.He is also the Chairman and President of First Asia Venture Capital, Inc., a direct investment/venture capital company he founded in 1983.Presently he is the Chairman and President of First Asia Institute of Technology and Humanities and, Chairman of Diwa Asia Publishing Group.Mr. Belen graduated from De La Salle University with a Bachelor of Arts degree in Economics (cum laude) and a Bachelor of Science degree in Commerce (cum laude).He has taken post-graduate courses in Economics at the University of the Philippines' School of Economics and the University of Asia and the Pacific.He is a Certified Public Accountant.
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Saturnino G. Belen, Jr. , Chairman and Chief Executive Officer
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Saturnino G. Belen, Jr. , Member
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Saturnino G. Belen, Jr. , Member
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Mr. Saturnino G. Belen, Jr., the Chairman of the Board, will take a more active executive role when Mr. Payne retires.
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Mr. Payne was promoted as CEO in place of Mr. Saturnino G. Belen, Jr. while Mr. Cruz was promoted as President, in place of Mr. Payne.
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Mr. Belen shall continue to be the Group's Chairman.
FASTECH SYNERGY LTD RETURNS TO GROSS MARGIN PROFITABILITY IN 2003
MANILA, Philippines - 28 January 2004.
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The Group also announced, with effect from 1 February 2004, the promotion of Mr. John R. Payne to the position of CEO in place of Mr. Belen; and the promotion of Mr. Octavio V. Cruz, Jr., to the position of President, in place of Mr. Payne.
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Mr. Belen shall continue to be the Group's Chairman.
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Fastech is well positioned to benefit from this expected growth," said Mr. Saturnino G. Belen, Jr., Fastech Chief Executive.
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Right now, the main concern is about SARS, which we had not foreseen and therefore has not been considered in our forecasts," said Mr. Saturnino G. Belen, Jr., Fastech Chief Executive.
"Thus, far, Fastech's expected revenue growth for 2003 isstill within plan.This plan is anchored on our conservative assumption of flat industry growth for the year, with sales increases coming from new customers," Mr. Belen added.
FASTECH ANNOUNCES FY2002 FINANCIAL RESULTS
MANILA, Philippines- 29 January 2003.
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said Mr. Saturnino G. Belen, Jr., Fastech Chief Executive.
"Inspite of this, Fastech expects a better year in 2003 compared to 2002 as it anticipates stronger overall performance this year compared to the previous one.New customer wins resulting from the Group's successful marketing efforts in the past year, are expected to bolster Fastech's revenues for 2003.With six new customers already in the bag, the Group anticipates sequential increases in quarterly sales for the whole of 2003, with turnover expected to exceed breakeven level by the 3rd Quarter of this year."commented Mr. Belen.
"As such, even if industry growth this year turns out to be flat, we at Fastech can still look forward to 2003 with positive expectations.Our expanded customer base, the result of our relentless marketing effort in the past year, will ensure that we will be able to grow revenues once again in 2003, after two consecutive years of decline."added Mr. Belen.
FASTECH SYNERGY LTD ANNOUNCES 2nd QUARTER 2002 FINANCIAL RESULTS
MANILA, Philippines- 30 July 2002.
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commented Mr. Saturnino G. Belen, Jr., Fastech Chief Executive.
"Inspite of the more sobering outlook, we still expect to see some improvement in quarter-over- quarter sales.However, any earnings arising out of this sales growth for the remaining half of 2002 may not be enough to offset the losses incurred in the first half of the year."said Mr. Belen.
FASTECH APPOINTS NEW PRESIDENT
MANILA, Philippines - 02 July 2002.
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commented Mr. Saturnino G. Belen Jr., Fastech's Chief Executive.
"For the year, the Group expects to report an operating income, thus preserving its unbroken record of positive earnings through the years since 1987.However, unfavorable developments such as additional restructuring charges and the adverse movement in the foreign exchange rate may put net income at risk."Mr. Belen added.
FASTECH CONSOLIDATES OPERATIONS IN CABUYAO, LAGUNA
MANILA, Philippines - 11 February 2002.
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