KUALA LUMPUR (Jun 14): Industronics Bhd today announced the resignation of its executive chairman Chow Ricky Kam Hung, who has opted to concentrate on other career commitments that require more of his time.

Chow, 50 and an American national, was appointed to the Industronics’ board on Feb 23, 2018. He has over 20 years of experience in sales and management in different type of business and work as a major role under different group with diversified enterprise, Industronic's stock exchange filing today showed.

Industronics has been loss-making since financial year ended Dec 31, 2012 (FY12), and Chow’s chairman statement in the group’s FY17 annual report stated that 2017 was a challenging year for the group due to external factors like strong competition in the industries the group operates in.

To strengthen the group’s financial performance, Chow said management will continue to look for ways to increase its revenue stream and streamline its operations to be more cost efficient.

Industronics shares were not traded today. The stock last traded on June 12 at 11.5 sen, giving it a market capitalisation of RM11.82 million.