KUALA LUMPUR (Feb 12): RHB Capital Bhd (RHBCap) said its group managing director Kellee Kam Chee Khiong has tendered his resignation, confirming The Edge Financial Daily's report today.

It added that Kam will remain in his current post until the end of the transition period, the date of which will be announced later.

RHBCap (fundamental: 1.5; valuation: 2.1) also allayed succession concerns, following Kam's imminent departure.

"The group has a succession plan in place and will execute a transition plan for a smooth handover of responsibilities to his potential successor. The transition plan will enable seamless continuity of the group's strategic approach," said RHBCap in a filing with Bursa Malaysia today.

"This will ensure continued management of the group’s business and operations, as well as uninterrupted service to our customers," it added.

As at 2.37pm, RHBCap shares were up 0.12% at RM8.11, with 101,40 shares traded. Its market capitalisation stood at RM20.86 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)