Sng Seow Wah exits from AFG’s board

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KUALA LUMPUR (Oct 3): Sng Seow Wah, who resigned as the group chief executive officer of Alliance Bank Malaysia Bhd in June this year, will vacate his director post at Alliance Bank’s parent, Alliance Financial Group Bhd (AFG), effective tomorrow.

“Sng’s tenure as a director [non-executive and non-independent director] of AFG, as approved by Bank Negara Malaysia, will expire on Oct 4, 2014,” said AFG in a filing with Bursa Malaysia this evening.

Sng, 56, had on June 5, 2014, unexpectedly resigned from Alliance Bank.

The Singaporean had decided not to renew his employment contract with the bank, which ended on July 4 this year, as he has to attend to important family matters in his home country.

On June 25, AFG said Sng will continue to helm Alliance Bank for a further period of three months until Oct 4, to facilitate a smooth transition.