Cuscapi CEO Her to step down from post

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KUALA LUMPUR (Dec 28): Cuscapi Bhd chief executive officer (CEO) Her Chor Siong will step down from his post on Jan 1, 2018.

In a filing with Bursa Malaysia today, Cuscapi said Her, 45, has resigned to pursue other interests.

According to its Annual Report 2016, Her was appointed to his current post in 2010, joining the board of directors on Aug 17, 2006 and had served as an executive director from 2006 to 2009.

Her holds a direct interest of 16.92 million shares and 33 warrants in Cuscapi.

In a separate filing, its independent and non-executive chairman Datuk Larry Gan Nyap Liou @ Gan Nyap Liow, 63, has been redesignated as executive chairman of the company.

Gan holds 21.32 million shares and 4.49 million warrants in Cuscapi.

Shares in Cuscapi closed down one sen or 1.82% at 54 sen today, with 7.36 million shares done, for a market capitalisation of RM268.08 million. Over the past year, the stock has more than quadrupled from 11.5 sen.