KUALA LUMPUR (April 15): Eduspec Holdings Bhd, an education technology products and services provider, has appointed its new substantial shareholder Datuk Kang Pang Kiang as executive deputy chairman, effective Monday.

The 52-year-old is currently the chief executive officer (CEO) of electronic manufacturing services firm EG Industries Bhd, in which he is also the largest shareholder with a 15.71% stake.

Prior to Kang’s emergence as a substantial shareholder in Eduspec, the company had secured a RM30 million contract from EG Industries in March, to provide testing services for its 5G optical modules and other related components.

Announcing the appointment in a statement, Eduspec also revealed that the group and EG Industries are exploring plans to set up a training centre for engineers, with the support of high-tech companies from the US, China and Europe. The partnership is envisioned as a collaborative effort to address the pressing need for skilled engineers in Malaysia, particularly in the field of 5G technology.

“This initiative will not only enhance Eduspec’s educational offerings but also position the company as a professional testing house for 5G optical modules," said Eduspec CEO Datuk Seri Gan Chow Tee.

Datuk Kang Pang Kiang (Filepix credit: eg.com.my)

According to filings with Bursa Malaysia, Kang acquired 24 million shares of Eduspec on April 8, bringing his direct stake to 5.103%. He also has an indirect stake amounting to 7.01%. His total shareholding in the company now amounts to 12.11%, representing 142.26 million shares.

A chartered accountant with the Chartered Accountant Association New Zealand and a member of the Malaysian Institute of Accountants, Kang was previously in SMT Technologies Sdn Bhd as finance director, and was later at Pensonic Holdings Bhd as its group chief financial officer, before his appointment as group CEO of EG Industries in July 2014.

Gan said Kang’s involvement in Eduspec is a testament to his confidence in the group’s potential and shared vision for the future. “His proven track record and deep industry knowledge will be invaluable, as we navigate the opportunities and challenges in the evolving technology landscape,” Gan added.

Shares in Eduspec settled 4% or half a sen higher at 13 sen on Monday, valuing the company at RM146.81 million. The stock has risen 30% year-to-date and 116.67% in the past one year.