Israeli tech exec joins Dito board

MANILA, Philippines —  An Israeli businessman who changed his name to conceal property fraud in the US has joined the board of Davao-based businessman Dennis Uy’s Dito CME Holdings Inc.

In a disclosure to the Philippine Stock Exchange, Dito said it has elected Oozi Cats as director following its annual stockholders’ meeting.

Cats resigned in 2017 as CEO of Telit Communications — a company he built in the 2000s — after his colleagues launched an internal investigation against him.

The investigation found that Cats is actually the Uzi Kats wanted in the US over property fraud. Further, it was reported that Cats willingly hid this information from colleagues and investors.

Telit is now part of the Telit Cinterion, a provider of internet-of-things solutions. The company is headquartered in Florida and London, supplying high-value chips to some of the world’s biggest manufacturers, including Honda and Lenovo.

Fraud case aside, Cats joining Dito will provide the company with an executive who has known the telco industry since the early cellular days.

Before leaving Telit, Cats was able to snap up big-time clients, including car maker Tesla, proof of his capability to set up partnerships with investors.

Cats’ entry into Dito also signals that the telco is determined to break its bleeding cycle, pinning hope that the executive could help it finally book a profit.

Dito also appointed investment manager Xinxin Wang into its board. The telco is also welcoming as independent directors long-time accountant Enrique Pampolina and trustee of the Government Service Insurance System Cenon Audencial Jr.

Salvador Medialdea, the former executive secretary of President Duterte, ended his term in Dito as independent director. Dito entered the telco industry when it won the right to become the third player during Duterte’s time in 2018.

Eric Recto, who served as finance undersecretary from 2002 to 2005, also concluded his term as a member of Dito’s board.

Dito wants to become profitable by 2028, but is nowhere close from doing so, as it tripled its net loss to P11.29 billion in the first half.