Binasat CFO quits after 16 months on the job

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KUALA LUMPUR (Dec 31): Binasat Communications Bhd chief financial officer (CFO) Ng Kok Meng has resigned to pursue other career opportunity.

The group has yet to announce a replacement for Ng.

In a filing with Bursa Malaysia today, the telecommunications services provider said Ng, 47, held 354,300 shares or a 0.13% stake in Binasat as at Dec 31, 2018.

According to Binasat's Annual Report, Ng joined the group in August last year as CFO.

He started his career in 1995 with Ernst & Young, Malaysia as an audit associate until 1997. He then joined Binariang Sdn Bhd (now known as Maxis) as an accounts executive in the finance department.

He left Maxis in 2014 and joined U Mobile Sdn Bhd in the same year as an assistant general manager in the finance department. He left U Mobile in 2017.

Binasat, which was listed on the ACE Market of Bursa on Jan 8, has seen several changes in the top management team over the past few months, including the appointment of its former chief operating officer Zulamran Hamat as its chief executive officer in September.

During the same month, the group had also appointed Tan Sri Cham Hak Lim as group chairman, replacing his predecessor Tan Sri Ahmad Fuad Ismail.

Binasat shares ended the morning session down 0.5 sen or 1.32% at 37.5 sen today, with 70,400 shares done, bringing a market capitalisation of RM97.5 million.