KUALA LUMPUR (July 13): Scanwolf Corp Bhd has appointed Datuk Othman Talib as its independent and non-executive chairman, replacing Mak Hon Weng who was removed from the post at the company's extraordinary general meeting last month.

Othman, 65, was formerly Terengganu chief police officer from 2002 to 2003 and Penang chief police officer (2003–2005). Between 2005 and January 2006, he was director of internal security and public order department at the Royal Malaysian Police, Bukit Aman. He became a member of the Police Force Commission from 2007 to 2009.

He is currently the chairman of Gegaran Lagenda Sdn Bhd and director of Bone Grey Sdn Bhd and Silver Avenue Sdn Bhd.

In a separate filing today, Scanwolf also announced the appointment of Mua’amar Ghadafi Jamal Jamaludin as independent and non-executive vice-chairman.

Mua’amar Ghadafi Jamal, 35, is currently executive director of Syarikat Pembinaan Caj Maju Sdn Bhd.

Scanwolf also saw the appointment of Teoh Teik Kean, 59, as its executive director and Ong Sing Guan, 49, as its independent non-executive director today.

Teoh was formerly a corporate planner with Scanwolf's subsidiary Scanwolf Plastic Industries Sdn Bhd since 2004 and was involved in the formulation and implementation of strategic plans for the company as well as providing advisory service on financial matters to the board of directors.

Ong had on June 3, 2015 ceased to be a member of an investigative committee set up to investigate possible irregularities in Scanwolf Group's affairs, after he resigned as the company’s director.

Ong had cited “management disagreement and do not want to be drawn in the board tussle” as the reason for his resignation then.

Meanwhile, Scanwolf has appointed Ong, Othman, Teoh and independent non-executive director Abdul Hamid Abdul Shukor as members of a newly-composed investigative committee with immediate effect. Also on the committee is a representative from PKF Covenant Sdn Bhd.

On April 23, 2015, Scanwolf had appointed PKF Covenant to probe into the group after preliminary findings of insufficient measures, severe discrepancies and possible irregularities in the implementation of its development projects.

Scanwolf (valuation: 0.90, fundamental: 0.55) shares closed up 6 sen or 17.14% at 41 sen today, with 18.85 million shares traded and was one of the most actively traded stocks on Bursa. Its market capitalisation was RM35.57 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.)