CEO Morning Brief

Bintai Kinden MD Redesignated to Director, Replaced by Ex-CEO

Publish date: Wed, 17 May 2023, 09:06 AM
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TheEdge CEO Morning Brief
Ku Chong Hong was redesignated to executive director cum chief financial officer.

KUALA LUMPUR (May 16): Bintai Kinden Corp Bhd made further announcements on its boardroom changes on Tuesday (May 16), including the return of its former chief executive officer Datuk Tay Chor Han as its new group managing director effective May 15.

Tay replaces Ku Chong Hong, who was redesignated to executive director cum chief financial officer. Ku, 34, has only held the MD position since Jan 18.

The latest leadership changes came after the mechanical and electrical engineering services provider reported three resignations and three appointments on Monday (May 15).

Tay was previously Bintai Kinden’s CEO for about a year. He was appointed as the group’s CEO on Feb 24 last year and resigned on March 3 this year to pursue his personal interest.

He is a substantial shareholder of the company holding 45.93 million ordinary shares, representing 5.14% of the total issued share capital of Bintai Kinden.

Tay is also the MD of Handal group of companies which comprises seven private limited companies involved in construction and property development activities. He is also a committee member of the Real Estate and Housing Developers Association (Rehda) of Melaka.

Besides that, the group announced that Mohd Idzwan Izuddin Datuk Ab Rahman, 41, independent director of Bintai Kinden has been redesignated to executive director.

At noon break, shares of Bintai Kinden dropped half a sen or 8.33% to 5.5 sen, valuing the group at RM45.03 million.

Read more:
Bintai Kinden redesignates ED Ku Chong Hong as MD
Bintai Kinden’s 24-year old executive director, chairman resign

Source: TheEdge - 17 May 2023

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