News broke on Thursday morning that Sim had died on Wednesday at age 67. His death was described by the company's interim CEO, president of the Creative Labs Business Unit Song Siow Hui, as a"sad and sudden development".
Commenting on the stock price jump, Mr Yeap Jun Rong, market strategist at IG, said that one of the possible reasons could be that Mr Sim is the key controlling shareholder of the company, with a more than 30 per cent stake in the company. "Another reason may be because market participants are looking towards any upcoming succession plan from the new leadership, which could include growth initiatives to support investors’ confidence," Mr Yeap said.
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Sim Wong Hoo, Creative Technology founder and CEO, diesOur condolences to Mr Sim's family 😔
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Creative Technology founder Sim Wong Hoo dies aged 67SINGAPORE – Creative Technology chairman and chief executive Sim Wong Hoo, one of Singapore’s most famous tech entrepreneurs, died on Wednesday (Jan 4). He was 67. Mr Sim founded the home-grown business in 1981, and had led the company since its inception. Under his leadership, Creative became famous for its Sound Blaster sound cards and digital entertainment products. Its audio...
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