CEO Morning Brief

Aldrich Appoints Sumatec Founder as Executive Director

Publish date: Tue, 22 Mar 2022, 06:01 PM
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TheEdge CEO Morning Brief
Chan Yok Peng (Photo by Chu Juck Seng/The Edge)

KUALA LUMPUR (March 21): Aldrich Resources Bhd has appointed Chan Yok Peng, the founder of Sumatec Resources Bhd, as an executive director.

Chan, 69, founded Sumatec in 1985 and served as its group managing director from 2003 to 2013 before being appointed as a non-independent and non-executive director of the oil and gas company from 2013 to 2015, according to Alrich's bourse filing.

In 2016, he was reappointed as managing director of the group but was redesignated as a non-independent and non-executive director from January to March 2017.

He also currently sits on the board of Euro Holdings Bhd.

Besides Chan, Aldrich also announced the appointment of Er Kian Hong as an independent and non-executive director. She is currently the finance director of Aquagourmet Sdn Bhd.

She served in the corporate finance department of M&A Securities Sdn Bhd from May 2014 to December 2021, after serving in the corporate finance/strategy department of KSK Group Bhd from February 2007 to March 2014.

Aldrich's share price closed unchanged at 3.5 sen, giving a market capitalisation of RM39 million.

Source: TheEdge - 22 Mar 2022

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