JHM names new chairman, redesignates MD Tan King Seng to CEO

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KUALA LUMPUR (August 20): Semiconductor manufacturer JHM Consolidation Bhd has appointed Lim Chun Thang as its independent and non-executive chairman, effective today.

Its existing executive chairman and managing director, Datuk Tan King Seng, has been redesignated as executive director and group chief executive officer.

Lim, 53, is currently the personal assistant to the group chairman and managing director of a public-listed company in Malaysia, with a background in corporate planning, as well as accounting and finance, JHM said in a filing with the stock exchange today.

He also holds an independent and non-executive directorship in Eurospan Holdings Bhd, a public-listed furniture maker and exporter.

In its second quarter ended June 30, 2018 (2QFY18), JHM’s net profit climbed 6.3% to RM8.43 million from RM7.93 million a year ago, despite revenue slipping 0.6% to RM63.41 million from RM63.82 million as the group strived to maintain its revenue stream amid a worldwide shortage in passive components.

The board proposed a first interim single tier dividend of 0.5 sen per share, payable on Sept 28, 2018.

Shares in JHM closed down 1 sen or 0.78% at RM1.28 today, leaving the group with a market capitalisation of RM719.73 million.