KUALA LUMPUR (April 21): Kawan Food Bhd non-independent executive director Timothy Tan Heng Han, 34, has been re-designated as managing director (MD) of the frozen food manufacturer.

In a filing with Bursa Malaysia today, it was revealed that Tan, who is also the deputy general manager of exports for Kawan Food Manufacturing Sdn Bhd which is a subsidiary of Kawan Food, will be taking on the role of MD.

Tan is the son-in-law of Kawan Food executive chairman Gan Thiam Chai and his wife Kwan Sok Kay, who is an executive director in the company.

Both Gan and Kwan are substantial shareholders of Kawan Food, with some 39.12% of shareholdings.

Kawan Food (fundamental: 3; valuation: 1.1) shares closed unchanged at RM1.91 today, with a market capitalisation of RM350.1 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.)