Hot Stock Luster jumps 6.67% in active trade after boardroom changes

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Hot Stock Luster jumps 6.67% in active trade after boardroom changes

Post by Cals on Thu 09 Jun 2016, 02:30

Hot Stock
Luster jumps 6.67% in active trade after boardroom changes
By Surin Murugiah / theedgemarkets.com   | June 8, 2016 : 10:06 AM MYT

KUALA LUMPUR (June 8): Shares of Luster Industries Bhd jumped 6.67% in active trade this morning after the company saw changes in its boardroom with 47-year-old Hong Kong-based businessman Gary How Soong Khong emerging as its managing director.
At 9.45am, Luster rose half a sen to 8 sen with 7.17 million shares done.
How is replacing 60-year-old Lim See Chea, who was redesignated as executive director effective June 7.
According to Luster Industries, How is the managing director of a private company in Hong Kong, Citi-Champ International Ltd, and manages his family's business which includes hotel, property, manufacturing and gaming
Aside from that, his wife Yap Yoke Chuan and brother in-law Yap Kean Kok were also appointed as the company's executive directors with immediate effect.
In separate filings, Luster Industries said several members who sat on the current board, including two of its executive directors, Lim See Meng and Lim See Hwa, have resigned from their posts to focus on subsidiaries' business and operation.
Ng Chin Nam, who was the independent and non-executive director, also resigned from his post due to other work commitments.

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