RGB International, the Malaysian manufacturer and distributor of casino gaming products, has announced the appointment of Ng Keng Luen as its new Chief Strategy Officer as the company looks to recover from the difficulties it has gone through during the Covid-19 pandemic.

The new RGB International executive is 41 years old and has previously held the position of Head of Equity Research at JP Morgan Malaysia. Ng Keng Luen has almost 20 years of experience in the financial market as he has also worked at Bank of America Merrill Lynch between 2005 and 2014.

After that stint the new Chief Strategy Officer of RGB International joined APS Asset Management as Senior Vice President and Head of Research and then moved on to Deutsche Bank in Singapore as Director and ASEAN Equity Strategist between 2015 and 2019. His tenure at JP Morgan started in August 2020 and came to an end in June 2023.

RGB International seems to be doing better and better lately, it recently signed an agreement to become the official Asian distributor of South Korea’s Kangwon Land and reported a profit of 10.5 million Malaysian Ringgit in the first quarter of 2023, a figure which represents an explosive increase of 418 percent compared to the same quarter of 2022.

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Big Plans for 2023

Shortly after the appointment of Ng Keng Luen as Chief Strategy Officer, RGB International announced that it plans to sell 4,000 gaming machines overseas by the end of 2023 for a total revenue of around 500 million Malaysian Ringgit.

The announcement was made by Datuk Seri Chuah Kim Seah, the company’s Managing Director, who said that Cambodia, Laos, Vietnam, Timor Leste, and the Philippines will represent the main market for the gaming machine business.

Datuk Seri Chuah Kim Seah also explained that the company is expecting to deliver half of the 4,000 machines to gaming venues by the middle of the year. Moreover, during the same period RGB International expects to lease out around 5,000 gaming machines, generating an additional 100 million Malaysian Ringgit in revenue.

The company’s operations in Cambodia have been affected by a fire incident last year, which led the Malaysian business to write off gaming machines worth some 5.8 million Malaysian Ringgit. However, despite the write-off, the company still managed to make a net profit of 3.9 million Malaysian Ringgit, according to the Managing Director.

Sources:

“RGB appoints former JP Morgan Malaysia analyst Ng Keng Luen as Chief Strategy Officer“. Inside Asian Gaming. July 10, 2023.

“RGB plans to sell 4,000 gaming machines this year“. Asia Gaming Brief. July 10, 2023.