In what has proved a tumultuous period for the company, profits are estimated to have fallen from US$3 million to $80,000 in a year, which led TTB's AIM-listed holding company Hat Pin to remove Stolkin from his post.
Hat Pin released a profits warning and issued a statement which said that last year had seen The Talent Business perform "below management expectations."
Hat Pin released a profits warning and issued a statement which said that last year had seen The Talent Business perform "below management expectations."
A week later, however, Stolkin, together with Lucy Meredith, CEO of the company's US operation, acquired TTB for $5 million.
Charlie Thomas (pictured), managing director of TTB Singapore, said: "The Talent Business did not perform in the context of the city's expectations. But then we never expected to be massively profitable in 2007. We opened an office in New York and Singapore and hired 30 new people."
The company launched in Singapore in April last year, adding to offices in Hong Kong and Shanghai. It now has 13 staff in the Asia-Pacific region.
"We are masters of own destiny again and have a great opportunity to grow and invest further in the region," added Thomas.
