KUALA LUMPUR (Oct 15): BSL Corp Bhd, which is involved in contract manufacturing of electrical and electronic products, announced on Friday the resignation of Ngiam Tee Wee as its chief executive officer.

In a bourse filing, the company said Ngiam, 53, has resigned due to “other work commitments as the managing director at the subsidiary level”, but did not elaborate. Ngiam holds 350,00 shares in BSL.

BSL's share price, which has been trending up since the start of the year, fell 20 sen or 7.81% to close at RM2.36 sen, giving the company a market capitalisation of RM228.06 million, with 3.16 million shares traded.

The stock has almost doubled from its closing price of RM1.19 on Sept 1, and is up over six times year to date from the 38 sen it was at on Dec 31, 2020.