KUALA LUMPUR (July 31): FACB Industries Incorporated Bhd (KL:FACBIND) has appointed Lim Kam Choy as its new chief executive officer, effective Thursday (Aug 1).

FACB is principally involved in the business of manufacturing and sales of bedding products, largely known for its Dreamland brand.

In a bourse filing, the group said the 57-year-old Lim was chief financial officer of several public listed companies, including ECM Libra Financial Group, Karambunai Corp Bhd and Petaling Tin Bhd.

Prior to that, Lim was vice-president for treasury at casino operator Genting Malaysia Bhd (KL:GENM) as well as head of corporate and finance at Ho Hup Construction Company Bhd (KL:HOHUP).

Most recently, Lim was also finance director and company secretary of steel maker Ann Joo Resources Bhd (KL:ANNJOO).

The late Tan Sri Dr Chen Lip Keong was the largest shareholder with a 30.16% stake in the company, its annual report showed. He passed away in December last year at the age of 75.

Chen was also founder of a Hong Kong-listed NagaCorp Ltd, which operates NagaWorld, a casino in Phnom Penh, Cambodia.

Based on Forbes Malaysia’s 50 richest list for 2023, Chen was the seventh wealthiest man in the country, with a net worth of US$2.8 billion (RM13.06 billion) as at May 31 last year.

FACB shares closed down five sen or 4.1% at RM1.17, giving the group a market capitalisation of RM100 million.