Thursday 28 Mar 2024
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KUALA LUMPUR (July 9): Andy Yap Jee Wye has resigned from his position as an executive director of plastic packaging manufacturer Versatile Creative Bhd. The resignation took effect on Sunday (July 8).

In a filing to Bursa Malaysia this evening, Versatile Creative said Yap — who was recently appointed as the group's acting chief financial controller following the discovery of "unauthorised payments" made by the company — stepped down "due to personal reasons".

Yap was previously a non-executive director in Versatile Creative, before he was re-designated to an executive role in December last year.

Last week, Versatile Creative's board suspended managing director Datuk Wong Kong Choong @ Leong Kong Choong and chief financial officer Tan Quok Eow following the discovery of financial irregularities arising from the unauthorised payments to third parties between August 2017 and June 2018.

Versatile Creative said last Friday its discovery of the unauthorised payments and the subsequent investigation it is conducting on the matter are not expected to impact its operations.

The group added that the investigation and forensics audit which commenced on July 3, 2018 is expected to be completed within 3 weeks from the commencement date.

Versatile Creative shares closed up 2 sen or 3.4% to 61 sen today, and for a market capitalisation of RM80 million.

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