Global Sources appoints Deputy CFO and announces June 2009 retirement for long-time CFO Eddie Heng

David Gillan, corporate finance expert, to assume CFO role

HONG KONG, Nov. 6 /Xinhua-PRNewswire-FirstCall/ -- Global Sources has hired David Gillan as Deputy CFO, with a view to Gillan assuming CFO responsibilities upon current CFO Eddie Heng's retirement, which is scheduled to be on June 30, 2009. Heng intends to continue to provide counsel as a consultant.

Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "We are delighted to welcome David to our team. His deep understanding of corporate finance and China tax law is an invaluable asset to the company as we strengthen our leadership role in Asia's B2B trade. We thank Eddie for his 15 years of service and his contribution in helping the company maintain a strong balance sheet while we expanded our products and services across Asia. We wish him the best during his retirement."

From 2003 through 2008, Gillan, 44, was based in Shanghai as China Managing Director and CEO for the Dennis Family Corporation Pty. Ltd., a private Australian real estate investment and development fund. From 2000 to 2003, Gillan was Finance Director, Tax & Treasury and Director of Project Development for the Intercontinental Hotels Group - Asia Pacific. Gillan has also held senior financial positions in various joint ventures in China from 1994-2000, including Finance Director China for Bass Ginsber Beer Company Ltd., a Sino-British JV, and Finance Controller and General Manager for Zumtobel Coffee and Foods Co, a private Sino-Austrian JV.

Gillan holds an MBA in International Management, Marketing and Finance from the University of Saskatchewan, Canada and a BBA in Finance from the University of Prince Edward Island, Canada.