Singapore Creative Technology Founder Sim Wong Hoo Dies at Age 67, Invented Popular Sound Blaster Card & First Singapore Company Listed on Nasdaq in 1992 Reaching $1.6 Billion Market Value in 1994
5th January 2023 | Hong Kong
Singapore Creative Technology founder Sim Wong Hoo has died at the age of 67 (1955 – 2023), one of Singapore most iconic entrepreneur who invented the popular personal computer Creative Sound Blaster Card (1989 – 1990s), listing the first Singapore company (Creative Technology) on Nasdaq in 1992 and reaching a market capitalization of $1.6 billion in 1994. In 2000, Sim Wong Hoo (Age 45) also became Singapore youngest billionaire. Sim Wong Hoo & Ng Kai Wa founded Creative Technology with $10,000 in 1981 as a computer repair shop in Singapore (Pearl Centre, Chinatown). Together, they developed products for computers including add-on memory board for Apple computers and multimedia boards (enhanced colours, audio). In 1989, they launched the Sound Blaster sound card. The popularity of the Sound Blaster card for computers drove Creative Technology revenue to more than $600 million in 1994. Between 1994 to 1996, Creative reached a peak market capitalization of $1.6 billion. In 1994, Creative Technology became publicly listed on Singapore Exchange and in 2007, delisted from Nasdaq. In 2006, Creative Technology (Sim Wong Hoo) sued Apple over patent infringements for portable music players and won $100 million in settlement. Sim Woon Hoo: “Singapore can be a tough environment for entrepreneurship, but if you can get by the tough part, you become very tough.” In 2000, Sim Wong Hoo (Age 45) became Singapore youngest billionaire and is one of Singapore richest self-made entrepreneur. Sim Wong Hoo is not married. Read – Sim Woon Hoo Interview with New York Times in 1994
” Singapore Creative Technology Founder Sim Wong Hoo Dies at Age 67, Invented Popular Sound Blaster Card & First Singapore Company Listed on Nasdaq in 1992 Reaching $1.6 Billion Market Value in 1994 “
Creative Technology Letter on Sim Wong Hoo – 5th January 2023
Creative Technology Letter on Sim Wong Hoo – 5th January 2023
Incorporated in the Republic of Singapore Company Registration No.: 198303359D
DEMISE OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER
The board of directors (the “Board”) of Creative Technology Ltd. (the “Company”) announces with great sadness that Mr. Sim Wong Hoo (“Mr. Sim”), Chairman and Chief Executive Officer of the Company, passed away peacefully on 4 January 2023.
On behalf of all staff of the Company, the Board expresses its deepest sorrow over the death of Mr. Sim and conveys its condolences to his family. The Board also expresses its heartfelt gratitude for the immense contributions to the Company by Mr. Sim during his tenure as the Chairman and Chief Executive Officer of the Company.
Mr. Sim founded the Company in 1981 and has been the Chairman and Chief Executive Office since inception. Mr. Sim has played an instrumental role in developing the business and has provided the Company with strong leadership and vision. Under his guidance, also launched the multimedia revolution that drives digital entertainment with cutting-edge audio. The Company became famous for the Sound Blaster sound cards and is a worldwide leader in digital entertainment products. The Company solutions which include premium wireless speakers, wireless headphones, powerful audiophile-grade amplifiers and digital audio converters, and next-generation home-theatre systems.
Following Mr. Sim’s demise, the Board has, during this transition period, appointed Mr. Lee Kheng Nam, Lead Independent Non-Executive Director, as acting Chairman, and Mr. Ng Kai Wa, Independent Non-Executive Director, as acting Vice Chairman. The Board has also appointed Mr. Song Siow Hui, President of the Company’s Creative Labs Business Unit, interim Chief Executive Officer.
“I have known and worked with Mr. Sim for over 30 years. This is a sad and sudden development and we feel a great loss especially since Mr. Sim and I recently had extensive discussions on the future direction of the Company. During those discussions, Mr. Sim was full of fresh vision. Even on the night before, he had a long discussion with the Engineering team and was scheduled to meet with the Online Sales team the next day. The best thing to do now is to ensure the continued smooth running of the Company, and also to execute and realise the vision and strategy that Mr. Sim had for the Company,” said interim Chief Executive Officer, Mr. Song Siow Hui.
Additional information on Mr. Sim’s cessation as Chairman and Chief Executive Officer of the. Company as required under the Listing Manual of the Singapore Exchange Securities Trading Limited will be set out in a separate announcement.
By Order of the Board
Ng Keh Long Company Secretary
5 January 2023
Creative is the worldwide leader in digital entertainment products. Founded in Singapore in 1981, Creative started with the vision that multimedia would revolutionise the way people interact with their PCs.
Famous for its Sound Blaster sound cards and for launching the multimedia revolution, Creative is now driving digital entertainment with cutting-edge audio solutions, premium wireless speakers, high performance earphone products and portable media devices. The company’s innovative hardware, proprietary technology, applications and services enable consumers to experience high-quality digital entertainment – anytime, anywhere.
Since launching the phenomenally successful Sound Blaster sound cards and setting the de-facto standard for PC audio in 1989, Creative has been able to leverage on its leading-edge audio technology, a huge user base of 400 million, and strong brand name to expand into the exciting lifestyle Personal Digital Entertainment (PDE) market.
Creative is now well recognised as a global leader for product innovation in the audio and PDE segments, offering consumers a complete, high quality digital entertainment experience through Creative’s hardware, software applications and services. Finding the perfect balance between form and function, Creative strives for every product to be a sensory feast for the eyes and ears.
Today, Creative is spearheading new product categories with its groundbreaking Sound BlasterAxx audio enhancement devices and solutions, highly-acclaimed Creative D5xm Signature Series of modular Bluetooth wireless speakers, Aurvana premium headsets, Sound Blaster wireless gaming headsets, and cross-platform Sound Blaster Recon3D for Xbox 360, Playstation 3, PC or Mac. These products and solutions are marketed to consumers and system integrators through a worldwide distribution network that includes traditional marketing channels, original equipment manufacturers (OEMs) and the Internet.
Moving forward, Creative’s mission is to expand its leadership role in the lifestyle Personal Digital Entertainment market, using groundbreaking technology and leading-edge designs for not just the technically-savvy consumers, but for everyone who enjoys entertainment. With strong focus on user-friendly interface, multiple features and cool industrial designs, the Creative brand is synonymous with lifestyle Personal Digital Entertainment.
Creative’s global corporate headquarters is located in Singapore, in the heart of the Asia-Pacific region. It has regional business units in the US (Milpitas, California), Europe (Dublin, Ireland) and Asia (Singapore). Creative is a public listed company on the main board of the Singapore Exchange (SGX) since June 1994. Creative’s worldwide corporate headquarters is based in Singapore. Located within the prestigious International Business Park for high-tech industries in Singapore, Creative HQ charts the directions for product innovations, research & development, mechanical & industrial design, production planning, sales and marketing, distribution & logistics and technical support services. Creative’s sales and distribution activities are carried out through an extensive, broad-based, multi-tiered channel distribution network in more than 80 countries in North America, Europe and Asia.
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