KUALA LUMPUR (July 24): SMTrack Bhd announced on Monday (July 24) that Datuk Wira Justin Lim Hwa Tat has been redesignated from executive director to non-executive director with immediate effect.

Lim, 47, was appointed as the executive director of SMTrack on Jan 7, 2022. He also sits on the board of several publicly listed companies, including chemical manufacturer Sersol Bhd as chief executive officer.

His father, Datuk Lim Tiong Siang, was redesignated as a non-independent non-executive director of SMTrack on July 6, from his previous post as the executive chairman cum managing director.

Justin Lim was in the spotlight recently after the Malaysian Anti-Corruption Commission (MACC) sought the public's help to locate him to assist in an investigation over his instructions and approval of five payments totalling RM2.5 million to a private company named HGC Legacy Enterprise.

On Sunday (July 23), he issued a statement claiming that the MACC had neither attempted to serve the notice requiring his attendance for any statement recording nor contacted him to seek his help in the investigations. The anti-graft agency has however strongly rejected the claim.

Meanwhile, Sersol announced last Friday (July 21) that it had issued a misconduct notice on Lim, demanding that he return to the office within one week.

Sersol said Lim had gone overseas "for purpose and reason only known to him" and ordered that he immediately give a written response to the board.

SMTrack's shares closed unchanged at three sen on Monday, valuing the company at RM35.75 million. Meanwhile, Sersol was up half a sen or 4.35% at 12 sen, giving the company a market capitalisation of RM84.12 million.

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