KUALA LUMPUR (Dec 30): Sumatec Resources Bhd's non-executive director Chan Yok Peng has been re-designated as the managing director (MD) of the company effective Jan 4, 2016.

In a filing with Bursa Malaysia today, Sumatec said Chan, 64, was the MD of the company from 2003 to 2013 and redesignated to his current post in 2013.

He started his career as a project engineer with Jurong Engineering Pte Ltd (Singapore) and later jointed the Federal Land Development Authority as an assistant mill manager before joining Esso Production Malaysia Incorporated in 1980.

Chan was involved in the construction of the RM650 million Esso Terengganu Crude Oil Terminal including the supervision of pipe coating and laying of 123 miles of 24-inch submarine pipeline from offshore Tapis Pumping Platform to Kerteh, Terengganu.

He later joined Tenaga Waja Sdn Bhd, a joint-venture of Wah Chang International of Singapore and a Malaysian bumiputra businessman, before starting his own business via Sumatec Corp Sdn Bhd in 1985.

Chan currently holds an indirect 2.08% stake in Sumatec.

In a separate filing, Sumatec said its chief executive officer Christopher Layton Dalton, 41, has resigned, following the expiry of his employment contract.

Prior to his appointment to Sumatec, he had served 16 years in the oil and gas industry with Halliburton.

Sumatec said Dalton, which owns 0.57% shares in Sumatec, has consented to be a consultant to the company to offer his service whenever needed.

Sumatec shares closed unchanged at 12.5 sen today, bringing a market capitalisation of RM437.63 million.

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