KUALA LUMPUR (Jan 19): Scan Associates Bhd's executive director Mak Siew Wei has been redesignated as executive deputy chairman.

Mak, 40, is a substantial shareholder in the company, holding 6.19% of Scan Associates shares, data compiled by Bloomberg shows.

In a separate filing today, Scan Associates also announced that Teh Chee Hoe, 40, has joined its board of directors.

Yesterday, the Guidance Note 3 company made an about-turn, announcing that its resolutions to re-elect two retiring directors namely Datuk Nik Ismail Nik Yusoff and Roy Winston George, tabled at last Friday's annual general meeting (AGM), were withdrawn.

In its amended announcement to Bursa Malaysia yesterday, the information, communications and technology security solutions provider said the two retiring directors did not get themselves re-elected at the AGM as they had decided to not seek re-election.

Scan Associates also said a resolution to approve the payment of directors' fees of RM156,000 for the financial year ended June 30, 2015 was also rejected at the AGM.

The company had on Friday announced that the three resolutions were "duly passed".

Scan Associates shares closed unchanged at 4.5 sen today, giving it a market capitalisation of RM9 million.

(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.)