Accrelist Ltd., a Singapore-based investment holding company, has appointed Derek Cheong Sheng Ze as its Chief Executive Officer, effective 16 June 2026. Cheong, known for his experience in building consumer-facing businesses in Malaysia, will lead the company’s strategic expansion into the Xiamen aesthetic clinic market in China.
Cheong’s first initiative involves a non-binding agreement to acquire a 51% stake in a target company that will establish or acquire aesthetic clinics in Xiamen. This move will see Accrelist’s A.M Aesthetics brand licenced to the venture on a royalty-free basis, enhancing the brand’s presence in China without incurring upfront costs.
The expansion into Xiamen is part of Accrelist’s broader strategy to focus on the rapidly growing aesthetics retail sector across Southeast Asia and Greater China. The company aims to leverage its A.M Aesthetics brand to capture a significant share of this market. Cheong stated, “The Xiamen collaboration is a deliberate first step: a derisked, strategic venture in a high-growth market, with a clear runway to scale.”
Accrelist will continue to evaluate its other holdings, including its stakes in Jubilee Industries and MClean Technologies, to ensure optimal capital allocation. Any significant developments will be communicated through market announcements.
Cheong’s appointment and the strategic entry into Xiamen mark a pivotal moment for Accrelist as it seeks to strengthen its position in the aesthetics industry, promising potential growth and value for shareholders.
