KUALA LUMPUR (Dec 13): Utusan Melayu (Malaysia) Bhd executive chairman Datuk Abd Aziz Sheikh Fadzir has resigned just six months after being appointed to the post.

According to a stock exchange filing by the Umno-controlled media group, he resigned “due to other personal business commitments”.

Abd Aziz, 55, took over as executive chairman on June 7 from Tan Sri Mohamad Fatmi Che Salleh, who along with four other directors had resigned due to changes in the Umno leadership after Barisan Nasional’s loss in the 14th general election (GE14).

Aziz failed to retain the Kulim-Bandar Baru Parliamentary constituency in GE14 when he was defeated by PKR’s Datuk Seri Saifuddin Nasution Ismail.

Meanwhile, Datuk Dr Ibrahim Yahya, 58, has been re-designated from his previous position as independent director to executive director, while Datuk Sri Dr Irmohizam Ibrahim, 42, has been appointed as independent and non-executive director.

Utusan Melayu incurred a net loss of RM33.9 million for its third quarter ended Sept 30, 2018, compared with a net profit of RM31.45 million in the same quarter last year. Quarterly revenue halved to RM40.11 million from RM93.44 million due to lower revenue from its Tutor Guru distribution and the absence of a gain on disposal.

The group is in the midst of forming a regularisation plan after it lapsed into Practice Note 17 status on Aug 20.

On Dec 4, it announced that it was selling its five storey shop-office  in Section 14, Petaling Jaya for RM7 million, netting a gain of RM3.95 million that would be used to fund its working capital requirements and day-to-day operations.