KUALA LUMPUR (Oct 2): Stone Master Corp Bhd chief executive officer (CEO) Professor Dr Wong Kong Yew@Leong Kong Yew has resigned from the loss-making marble and granite products manufacturer after completing his one-year assignment for the financial year of 2014/2015.

In a filing with Bursa Malaysia today, Stone Master also cited "to focus on his other business pursuits and commitments" as the reason for Wong's resignation.

Wong, 41, had stepped down from Stone Master's board as an executive director on Sept 30, which was earlier announced to Bursa Malaysia on Sept 25.

Wong was appointed to Stone Master’s board on Aug 18, 2014 as an executive director and was re-designated as CEO on Sept 9, 2014, and has extensive professional and managerial experience in both the hotel and education industries in Malaysia.

Wong is the founder and president of the Malaysian Hospitality College. He has also served as the first president of the Malaysia Centre for Tourism and Hospitality and Education, an Economic Transformation Programme under the Prime Minister's Office, which oversees the training capacity development of the tourism and hospitality industry in Malaysia.

His resignation comes on the heels of the company signing a slew of heads of agreement with China-based companies for the exclusive rights to distribute products under their brands in Malaysia and Singapore for five years. The products ranged from wooden solid doors to environmentally friendly custom-made furniture and architectural aluminum doors.

Stone Master (fundamental: 0.35; valuation: 0.3) shares closed unchanged at 25 sen today, bringing a market capitalisation of RM89.91 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)