A top army officer in Singapore is to become COO of an Asian crowdfunding business.

Singapore-based crowdfunding firm CoAssets has appointed a former top-ranking army officer to be chief operating officer, taking effect from 4 May.

The COO is Lawrence Lim, the jurisdiction’s ex-chief artillery officer, according to a statement from the Australia-listed firm. 

Lim has also served as commander personnel command, as well as head joint operations planning and head control of operations group for the Singapore Armed Forces. Lim was also the organising chairman for the opening and closing ceremonies of the 28th South East Asian (SEA) Games, which were held in Singapore. Lim's role will be to drive CoAssets' day-to-day operations, while the firm's CEO, Getty Goh, continues to implement the company's operational strategy, the firm said.

The appointment comes at a time when the company is expanding across multiple jurisdictions, it said. To date, CoAssets has done deals amounting to more than S$44 million ($31.9 million). 

Beyond the Singapore market, the company is looking to expand the reach of its business crowdfunding arm into Australia, via its wholly owned subsidiary. The company has recently become a corporate authorised representative of the Melbourne Securities Corporation, which allows it to target the Australian business and real estate crowdfunding market. Other key markets for CoAssets are China, Indonesia, Australia and Malaysia, it said.