CEO Morning Brief

SEGi Appoints MD's Daughter as Non-executive Director

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Publish date: Thu, 16 Jan 2025, 10:06 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Jan 15): SEG International Bhd (SEGi) (KL:SEG) has appointed Datin Adeline Hii Siew Ching, the daughter of the group's managing director Tan Sri Clement Hii Chii Kok, as its non-independent non-executive director, effective Wednesday.

In a filing with Bursa Malaysia, SEGi said Adeline Hii, 45, is an experienced senior tax agent and auditor with over a decade of experience in the accounting industry, specialising in small and medium-sized business clients in Brisbane, Australia.

Separately, SEGi also announced the appointment of Datuk John Tiong Tak Chong, who is also a non-executive director at HCK Capital Group Bhd (KL:HCK), as its executive director.

Tiong, 60, has more than 20 years of experience in the education industry, according to SEGi.

Clement Hii, through EduEdge Equities Sdn Bhd, in which he is the sole director and shareholder, in April 2024 initiated an unconditional mandatory takeover offer after he bought out private equity firm Navis Capital Partners Ltd’s 20.55% stake in SEGi for RM112.98 million cash or 45 sen per share.

Following the acquisition, Hii's stake rose from 32.46% to 53.01%. Together with the 0.08% stake held by his son-in-law, Datuk Dennis Ling Sie Hieng, who was acting in concert with Hii in the deal, their collective shareholding stood at 53.09%.

Following the closing of the unconditional mandatory takeover offer, Hii's stake in SEGi rose to 60.16%.

Shares of SEGi were up 0.5 sen or 0.81% to close at 62.5 sen on Wednesday, with a market capitalisation of RM791.09 million.

Source: TheEdge - 16 Jan 2025

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