KUALA LUMPUR: Masterskill Education Group Bhd saw a slew of boardroom changes yesterday, including the appointment of Datuk Dr R Palan as an executive director (ED) in the education group, and the redesignation of chairman and ED Siva Kumar M Jeyapalan to the role of a non-independent and non-ED.
In separate filings with the exchange, it was revealed that Palan — who is the chairman and group chief executive officer of SMRT Holdings Bhd — will be taking on the executive role in Masterskill (fundamental:0.8; valuation: 0.6).
SMRT subsidiary Strategic Ambience Sdn Bhd controls some 23% of Masterskill.
Siva Kumar’s role of chairman will be filled by former chief of the Malaysian Army General (R) Tan Sri Mohd Shahrom Nordin.
Earlier this year, Siva Kumar disposed of 30.75% of his stake in Masterskill to SMRT and Creador II LLC, and had ceased to be a substantial shareholder of the education group.
It also announced the appointment of Major-General Datuk Pahlawan Dr Mohana Dass Ramasamy (Rtd), Darawati Hussain and Loh Kok Long as non-independent and non-EDs in Masterskill. Leou Thiam Lai was also appointed an independent and non-ED.
This article first appeared in The Edge Financial Daily, on April 9, 2015.