KUALA LUMPUR (March 1): Ready-mixed concrete, cement products and industrial gases manufacturer BIG Industries Bhd has appointed Tan Sri Dr Lau Ban Tin as its new chairman in place of Datuk Sawaludin Md Din who has resigned due to health reasons.

In a filing with Bursa Malaysia, BIG said Lau, who previously held the position of non-executive director, was re-designated to the new position today.

Lau, 60, was a pioneer in setting up Tawakal Hospital in Kuala Lumpur and was the financial consultant for the Bandar Tun Razak Project under Kuala Lumpur City Hall. Currently, he is actively involved in housing development in Shah Alam and Klang.

In a separate filing, the group also announced the resignation of Sawaludin.

Salawudin, 66, joined an international corporation in 1974 for 17 years overseas. He held the position of general manager, senior general manager and executive director in several companies such as Mezzanine Capital Sdn Bhd, Wembley Industries Holding Bhd and IMPSA (Malaysia) Sdn Bhd, it added.

BIG is primarily involved in the manufacturing and trading of concrete products and industrial gases. The company also has interests in property development and construction.

Lau was also re-designated as the member of the Audit Committee from his previous position of chairman of the committee.

The committee chairman position would be taken up by Datuk Lee Chuen Wan, while another appointed member was non-independent non-executive director Tiong Kai Goh.

Following the boardroom changes, the new Nomination Committee is also made up of the same members of the Audit Committee.

BIG shares closed 0.5 sen or 0.73% lower today at 68 sen for a market capitalisation of RM32.7 million.