Thursday 28 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily, on March 16, 2016.

 

KUALA LUMPUR: Yong Tai Bhd’s founder and managing director (MD) Wong Liew Lin @ Liew Fat Lin has resigned as the group’s managing director effective yesterday.

In a bourse filing, the garment maker said Wong’s resignation was due to “other commitments and busy schedule”.

Wong was appointed to the board on Oct 2, 1997, and had helmed the MD post since Nov 8, 1997. Wong founded Yong Tai Group. His stake in Yong Tai stood at 20.67% as at Nov 13, 2014, but had been pared down to 0.52% as at Jan 18 this year.

On June 25 last year, Yong Tai saw the emergence of two new substantial shareholders, Tan Sri Lee Ee Hoe (9.18%) and Boo Kuang Loon (7.16%).

Lee is also the director and shareholder of PTS Impression Sdn Bhd, which holds the licence to produce and stage Impression Melaka, and which Yong Tai announced it would be acquiring last year.

Boo is the chief executive of PTS Properties Sdn Bhd, Yong Tai’s joint-venture partner in its maiden property development in Melaka, The Pines, a 29-storey condominium hotel that it completed last year. Boo has been appointed as Yong Tai’s executive director since Oct 7. — by Gho Chee Yuan

      Print
      Text Size
      Share