KUALA LUMPUR (Dec 29): Diversified conglomerate Oriental Holdings Bhd saw a series of boardroom changes today and top of the list is the retirement of its chairman and executive director, Datuk Seri Loh Cheng Yean, 71, effective Dec 31, filings with Bursa Malaysia showed.
Taking over from Cheng Yean is her nephew, Datuk Loh Kian Chong, 38, who has been re-designated as chairman and executive director from deputy chairman previously. His redesignation will be effective from Jan 1 next year.
According to the group's latest filing with the bourse, Kian Chong has a deemed interest of 57.06% in the group via Boon Siew Sdn Bhd, amongst other privately owned companies. Property developer Boon Siew is Oriental Holdings' largest shareholder with a direct 43% stake and 12.34% indirect stake.
Meanwhile, Cheng Yean's daughter, Tan Kheng Hwee, 48, has been appointed executive director. Kheng Hwee will cease to be alternate director to Cheng Yean following the latter's retirement on Dec 31.
Additionally, Datuk Sri Tan Hui Jing, 33, has been re-designated to executive director from non-executive director effective Jan 1 next year. Hui Jing is the son of Datuk Dr Tan Chong Siang, another nephew of Cheng Yean.
Oriental Holdings closed up 2 sen or 0.29% at RM6.88, giving it a market capitalisation of RM4.27 billion.