KUALA LUMPUR (March 24): Revenue Group Bhd has appointed retired senior police officer Datuk Lisa Tang Ngat Ngoh as an independent non-executive director, effective Friday (March 24).

According to Revenue Group’s bourse filing on Friday, Tang served in the Royal Malaysian Police (RMP) for 34 years from 1987 to 2021. The last post she held prior to retirement was senior assistant commissioner of police serving as head of the Strategic Policy Division in the Inspector General of Police Secretariat (Research & Development).

On Revenue's board, Tang is joining chairman Nor Azzam Abdul Jalil, executive director Teh Chee Hoe and directors Ng Chee Keong, Jade Lee Gaik Suan, Kamari Zaman, Azman Hisham, Chandera Sekaran and Krishnan Dorairaju.

The e-payment solution provider’s board has undergone a rebuild this year, with Teh, Kamari, Azman, Chandera, and Krishnan being appointed earlier this month; Lee was appointed back in January.

Earlier this week, Revenue Group’s executive directors and co-founders Brian Ng Shih Chiow and Dino Ng Shih Fang resigned from the board, saying they did not want to be on the same board as the current directors.

Meanwhile, co-founder Datuk Eddie Ng Chee Siong resigned from his post as managing director on March 14 due to personal reasons after ceasing to be a substantial shareholder of the group.

A slew of other directors departed in weeks prior to Eddie's exit.

Revenue Group has been mired in a boardroom tussle since January this year, when it was revealed that Brian and Dino’s executive functions were suspended after several complaints were lodged against them.

In February, the group was slated to convene two extraordinary general meetings (EGMs), one for the removal of Brian and Dino as directors, while another — requisitioned by Brian — was to remove the entire board of directors, barring the brothers.

However, neither EGM was held after a court order restrained the group from proceeding with the meetings, pending the determination of an interim injunction application filed by Brian and Dino.

Now, all three co-founders of the group are no longer sitting on its board. While both Brian and Eddie are no longer substantial shareholders — Brian transferred all his shares to Dino last month — Dino remains Revenue's single largest shareholder with a 14.21% stake.

Shares in Revenue Group closed 2.5 sen or 8.33% lower at 27.5 sen, giving the group a market capitalisation of RM132.6 million.