This article first appeared in The Edge Financial Daily on July 2, 2019

KUALA LUMPUR: Green Packet Bhd said its founder Puan Chan Cheong (pic) was redesignated yesterday as group managing director and chief executive officer (CEO) from non-executive director in a management reshuffle aimed at growing the telecommunications company’s digital ventures.

In Bursa Malaysia filings and a separate statement, Green Packet said Tan Kay Yen was also redesignated as executive director yesterday from CEO.

Puan, widely known as CC Puan, said in the statement: “The main ingredient to be a successful company is no other than having a dedicated and passionate team sharing the same values with the organisation.”

“Tan and the team have done a great job preparing Green Packet for the future. I look forward to rallying the team onward and forward by growing and empowering the team through several people-focused initiatives and drive a ‘Deliberately Growth Culture Company’, besides propelling business growth and development,” Puan added.

According to the statement, Tan, also CEO of kiplePay Sdn Bhd, will focus on and drive the group’s financial technology business that focuses on e-wallet and payment gateway solutions.

The statement said Green Packet, in 2017, acquired an 80% stake in e-payment issuer kiplePay, formerly known as WebOnline Dot Com Sdn Bhd.

Puan founded Green Packet in 2000. According to the statement, he led the company to become an international player providing connectivity devices and solutions to telecommunications companies globally.

“He subsequently led the company to its [Bursa’s] Main Market listing in 2005. The group’s biggest endeavour was raising a substantial capital to launch and operate Malaysia’s challenger telecommunications company before it was acquired by Telekom Malaysia Bhd (TM). Thereafter, CC Puan relinquished his role as group CEO to Tan in 2014 when he became P1’s CEO after the TM acquisition for two years,” said the statement.