KUALA LUMPUR (Oct 2): Steel manufacturer CSC Steel Holdings Bhd has appointed Lee Ie-Hsian as its new managing director, effective today. He replaces Chen Huo-Kun who was resigned.

CSC told Bursa Malaysia that Lee has over 25 years' working experience in the steel manufacturing industries.

Prior to his appointment to the board, Lee was a vice president of CSC’s commercial division .

“He joined Chung Hung Steel Corporation, Taiwan, a subsidiary of China Steel Corporation, Taiwan, in 1989,” it said.

In a separate filing, CSC said Chen had tendered his resignation as a director and the group MD due to the completion of his secondment to CSC.

CSC shares closed one sen or 0.58% lower to RM1.71 with 168,700 shares done, for a market capitalisation of RM631.52 million. Year to date, the stock has shed about 19%.