KUALA LUMPUR (Jan 3): YLI Holdings Bhd’s independent and non-executive chairman Tan Sri Syed Mohd Yusof Tun Syed Nasir resigned today, with its managing director (MD) Datuk Samsuri Rahmat replacing him as independent and non-executive chairman.

In a series of bourse filings, it was revealed that Syed Mohd Yusof, 72, had resigned from the company in order “to spend more time on personal interest and ongoing businesses,” the group said.

Meanwhile, executive director Seah Heng Chin will take over Samsuri’s position, effective today.

Meanwhile, executive director Ali Sabri Ahmad had also resigned from the group’s board, in order to pursue personal interests.

YLI also appointed former Royal Malaysian Police counter terrorism unit head Datuk Jalaludin Ibrahim today, as an independent and non-executive director.

According to bourse filings yesterday (Jan 2), Ali Sabri ceased to control any voting shares in Suasana Karisma Sdn Bhd, which is YLI’s largest shareholder, controlling a 31.62% stake.

Meanwhile, Seah became a substantial shareholder in YLI, through Suasana Karisma.

On the other hand, Samsuri still maintains his stake in the company.

Shares of YLI closed 3.70% or a sen lower at 26 sen per share, giving it a market capitalisation of RM26.74 million. The counter saw 49,000 shares traded.