KUALA LUMPUR (Oct 14): Ideal United Bintang Bhd, formerly known as United Bintang Bhd, has announced the resignation of Tan Kim Soon as the group managing director.
In a filing with Bursa Malaysia, Ideal United Bintang said the 64-year-old Tan has resigned with immediate effect, “to pursue his own personal matters and interests”. The company however did not announce the successor to Tan.
According to Ideal United Bintang’s annual report 2013, Tan is one of the founder directors of United Bintang and United Bintang Machinery Sdn Bhd.
With over 30 years of experience in reconditioned heavy machinery, Tan is said to be a well-known figure in the industry, both locally and abroad.
Tan owns 5.4 million shares in Ideal United Bintang, or a 10% stake.
The stock closed unchanged at 80 sen yesterday, with a market capitalisation of RM50.7 million.