Sats names first chief digital officer to lead global digitalisation initiatives
The appointment, which took effect on Mar 17, sees Sakharkar leading the development and execution of Sats' digital strategy, focusing on integrating advanced data analytics, automation, artificial intelligence (AI) and operational improvements across the company's global operations.
The announcement comes after Timothy Tang's designation as group chief financial officer on Apr 24, as part of Sats' leadership renewal process.
Sakharkar became chief digital officer at a time the company is advancing to the next stage of its digital transformation, following its acquisition of global air cargo logistics provider Worldwide Flight Services (WFS).
Sats completed the 1.3 billion euro (S$1.9 billion) acquisition in April 2023, which helped the Singapore company expand its global operations. Last month, WFS opened a US$270 million cargo terminal at John F Kennedy International Airport in New York, the United States.
Sats is looking to set new industry standards and create smarter, more agile service solutions. It emphasised that its focus will be on 'leveraging technology to enhance transparency, optimise supply chain performance, and elevate the end-to-end customer experience'.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
Sakharkar brings to the role more than 25 years of experience in technology-driven transformation, most recently as global chief information officer at GXO Logistics. He has also held senior positions at Johnson & Johnson and Footlocker.
In addition, he is the founder of Datanoetic, an early-stage data, AI and process automation startup, where he remains non-executive chairman.
'Together with our talented global teams, we will scale digital capabilities, harness the power of modern digital, data and AI capabilities, and ensure our customers receive the highest levels of reliability, speed and service,' Sakharkar said.
Shares of Sats closed S$0.01 or 0.4 per cent lower at S$2.89 on Tuesday, before the news.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
36 minutes ago
- Business Times
For SMEs, Syfe thinks boring and safe products are the way to go
[SINGAPORE] Wealth platform Syfe has had a 120 per cent increase in business clients since the first quarter of 2025, as companies seek higher returns on corporate cash amid market volatility. It currently has about US$10 billion in assets under management (AUM), with its business arm gaining 140 per cent in AUM compared to the end of 2024. When the market becomes more uncertain, businesses get more conscious that they are not earning any interest on the cash they are holding, said Jack Prickett, Syfe's chief commercial officer and head of business. He noted that in May alone, the number of customers who signed up for Syfe's business arm was double that of last December. In an interview with The Business Times, Prickett said that most small and medium-sized enterprises (SMEs) that bank with the traditional players are earning close to zero interest on their cash balances. Syfe's research estimates that S$800 million in potential interest is being lost, due to these businesses' funds being left in low-yield bank accounts. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up 'For businesses, treasury money has to be safe… it has to be a boring product,' Prickett said. Among the enterprises using Syfe's products, 95 per cent utilise the lowest-risk one, which is a cash product. Underlying that product, called Cash+, is a money market-type instrument that is invested in government debt, quasi-government debt and bank fixed deposits, he added. The product offers two different plans, Flexi and Guaranteed. Flexi does not impose a lock-in period for funds deposited; Guaranteed schemes require lock-in periods of one, three, six or 12 months. The returns range from 2.1 to 4.3 per cent a year. 'It is super boring, and it is super safe,' said Prickett. Getting the foundations right Last month, Syfe announced that it had raised US$53 million in an expanded Series C funding round, adding to the US$27 million that it had secured in August 2024. The funds will be used for regional expansion and making strategic hires. They will also go towards automation and tools assisted by artificial intelligence (AI) to enhance efficiency for both the company's clients and operations. Within Syfe, AI is used for back-end coding and designing. Through large-language models, the wealth platform is able to deliver personalised educational content on a larger scale. But even with the increasing use of AI, Prickett insists on getting the foundations right – especially with SMEs. 'I want them to know that we're boring. I don't want them to think that we're a cutting-edge fintech company,' he said. 'Liquidity is extremely important for individuals and businesses,' he added, disclosing that Syfe is working on new features that would enhance liquidity for both its retail and business customers. The liquidation period for its cash products is currently one to two business days. 'The reason we want to improve this is because of the behaviour and the expectation of the users today,' the executive said.
Business Times
2 hours ago
- Business Times
Vietnam's laid-off communist officials face uncertain future
[HANOI] Sipping green tea in his garden of roses, ex-communist party official Nguyen Van Cuong says he is 'jobless but happy' after Vietnam cut 80,000 state roles this week. But fretting at home after leaving public employment once considered a job-for-life, Nguyen Thi Thu told AFP she feels 'empty' over a future that is no longer certain. Vietnam is in the midst of a dramatic remaking of its state apparatus, with 100,000 positions slated to be scrapped as Hanoi seeks to streamline bureaucracy and boost the economy. On Monday, 80,000 roles were slashed as most of the nation's provinces and cities were merged. Feelings are mixed among newly unemployed apparatchiks – communist party officials whose jobs were once guaranteed. 'It's really a waste for the state to lose one like myself,' said 56-year-old Cuong, who served in Bac Giang province outside Hanoi. Bac Giang was merged into a neighbouring province's administration. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The government said those caught in the overhaul would either be made redundant or offered early retirement. Cuong told AFP he could have remained in his post – or even been promoted – but chose to accept a US$75,000 payoff for his remaining six years after a 30-year state career. 'It's time to rid myself of so much complexity in state politics,' he said. The mass reorganisation overseen by Vietnam's top leader To Lam echoes steps taken by US President Donald Trump and Argentine leader Javier Milei to take an axe to government spending towards 'efficiency'. 'Don't know what's next' Former district-level secretary Thu admits she may not have been able to manage the burdens of the job as management prioritised performance. The 50-year-old felt she had no option but to resign when her office was relocated to the Mekong Delta province of An Giang, more than 70 km from her home. 'I resigned, not because I wanted to quit my job,' Thu said. 'It's better to resign rather than waiting for a dismissal order.' Vietnam – a global manufacturing hub – recorded economic growth of 7.1 per cent last year and is aiming for eight per cent this year as it vies for 'middle-income country' status by 2030. But the country is facing headwinds from key trade partner the US. Trump threatened a 46 per cent tariff before settling on a 20 per cent rate in a deal announced on Wednesday – a levy five times the rate before he took office the second time. Vietnam's deputy finance minister said the new administrative structure would bring 'strong scale to connect strong business and economic infrastructure' and create 'greater socio-economic development'. Lam, the Communist Party general secretary, said Monday that 'the decision to reshape the nation is a historical landmark with strategic meaning' aiming 'to continue our path towards a socialist country... for people's happiness'. But for Thu, the way forward is now unclear. 'I don't know what to do next,' she said. Scrolling carefree on his phone and chatting with friends online, Cuong said he had few regrets over his voluntary redundancy. He feels like Vietnam may be the one missing out on what he has to offer. AFP
Business Times
2 hours ago
- Business Times
Syfe aims for its products to be boring and safe
[SINGAPORE] Wealth platform Syfe has had a 120 per cent increase in business clients since the first quarter of 2025, as companies seek higher returns on corporate cash amid market volatility. It currently has about US$10 billion in assets under management (AUM), with its business arm gaining 140 per cent in AUM compared to the end of 2024. When the market becomes more uncertain, businesses get more conscious that they are not earning any interest on the cash they are holding, said Jack Prickett, Syfe's chief commercial officer and head of business. He noted that in May alone, the number of customers who signed up for Syfe's business arm was double that of last December. In an interview with The Business Times, Prickett said that most small and medium-sized enterprises (SMEs) that bank with the traditional players are earning close to zero interest on their cash balances. Syfe's research estimates that S$800 million in potential interest is being lost, due to these businesses' funds being left in low-yield bank accounts. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up 'For businesses, treasury money has to be safe… it has to be a boring product,' Prickett said. Among the enterprises using Syfe's products, 95 per cent utilise the lowest-risk one, which is a cash product. Underlying that product, called Cash+, is a money market-type instrument that is invested in government debt, quasi-government debt and bank fixed deposits, he added. The product offers two different plans, Flexi and Guaranteed. Flexi does not impose a lock-in period for funds deposited; Guaranteed schemes require lock-in periods of one, three, six or 12 months. The returns range from 2.1 to 4.3 per cent a year. 'It is super boring, and it is super safe,' said Prickett. Getting the foundations right Last month, Syfe announced that it had raised US$53 million in an expanded Series C funding round, adding to the US$27 million that it had secured in August 2024. The funds will be used for regional expansion and making strategic hires. They will also go towards automation and tools assisted by artificial intelligence (AI) to enhance efficiency for both the company's clients and operations. Within Syfe, AI is used for back-end coding and designing. Through large-language models, the wealth platform is able to deliver personalised educational content on a larger scale. But even with the increasing use of AI, Prickett insists on getting the foundations right – especially with SMEs. 'I want them to know that we're boring. I don't want them to think that we're a cutting-edge fintech company,' he said. 'Liquidity is extremely important for individuals and businesses,' he added, disclosing that Syfe is working on new features that would enhance liquidity for both its retail and business customers. The liquidation period for its cash products is currently one to two business days. 'The reason we want to improve this is because of the behaviour and the expectation of the users today,' the executive said.
