KUALA LUMPUR (Aug 5): Sersol Bhd has appointed Datuk Lim Tiong Sang as its non-executive chairman and his son Datuk Justin Lim Hwa Tat as managing director, effective today.

In bourse filings, the group also announced that Lim Kim Chai has resigned as its executive chairman, and Toh Hong Chye as executive director, due to personal reasons.

Last week, Toh and Kim Chai ceased to be substantial shareholders of the paints and coatings group after disposing of their shares.

Two other directors, namely Datuk Yen Soon Ai and Datuk Low Kim Keng, have also resigned for the same reason, the group said in separate filings today.

Sersol said Tiong Sang, 75, previously formed a joint venture car air conditioner manufacturing company with Denso of Japan called Denso Malaysia, at which he held the position of joint managing director.

He was also the founder and first chairman of Toyota Suppliers Club and also a committee member of the Proton Suppliers Club.

Sersol said Hwa Tat has over 15 years' experience in various fields such as shipping, commodities, structured financing, fundraising, aviation and trading sectors.

He turned his businesses into going full force into finding Covid-19 solutions, the group said.

"This is broadly represented in his initiative to provide quality healthcare products through Kenteam Group of Companies and Asia Glove Hub, both one of the world's leading manufacturers of surgical, examination, high risk and multipurpose gloves with worldwide coverage in every key market sector," said the group.

Shares of Sersol rose half a sen or 1.23% to close at 41 sen, giving it a market capitalisation of RM87.22 million.