KUALA LUMPUR (March 23): TH Heavy Engineering Bhd's independent non-executive chairman Datuk Abd Aziz Sheikh Fadzir has resigned from the post after serving for less than a year.

He resigned due to a "personal commitment", according to the group's filing with Bursa Malaysia.

The 58-year-old former UMNO lawmaker was appointed as TH Heavy chairman on May 25 last year.

He does not hold any shares in TH Heavy, said the filing.

For the financial year ended Dec 31, 2021, TH Heavy managed to narrow its losses to RM15.77 million, from RM56.29 million a year earlier, despite revenue shrinking to RM9.36 million from RM61.92 million.

TH Heavy's shares have been suspended from trading since December last year as the group had failed to regularise its financial health.

On March 8, TH Heavy obtained yet another extension of time until Aug 22 to submit its regularisation plan to stave off a potential delisting.