KUALA LUMPUR (Oct 8): Two executive directors at agro-chemical manufacturer Halex Holdings Bhd have resigned today due to personal reasons related to organisational changes and the implementation of key performance indicators (KPIs).

In a filing with Bursa Malaysia, Halex managing director Chen Sen Loon has resigned due to "personal reason(s)".

The announcement also attributed any disagreement that he has with Halex board of directors to the change of organisational set-up and implementation of KPIs.

Chen had been appointed as managing director just six months ago on April 15.

Chen had reportedly said in May that Halex was in advanced talks with an Asian multinational corporation to supply straight fertilisers, which will see the company sell 120,000 tonnes of fertilisers compared to 1,000 tonnes of fertilises per year.

In a separate filing, executive director Lim Pang Yan has also resigned on similar reasons.

Halex shares closed 1.5 sen or 2.94% lower at 49.5 sen, with a market capitalisation of RM52.46 million.

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