KUALA LUMPUR (March 1): Flonic Hi-Tec Bhd has appointed 24-year-old Loh Boon Ginn to assume its newly-created managing director position.

The group also told Bursa Malaysia that its executive chairman Datuk Chua Wye Man has resigned to pursue other business interest after serving the company for four years.

Flonic Hi-Tec said Loh has a Bachelor of Entrepreneurship from Curtin University, Western Australia, and is the founder of a company involved in business investment activities and construction.

Loh's sister Shy Ming, 26, has been appointed as a non-executive director along with Loh Boon Zheng, 27.

Flonic Hi-Tech shares closed unchanged at 4.5 sen today, for a market capitalisation of RM35.95 million.