Eddie Chai tipped to be appointed Astral Supreme MD

Eddie Chai tipped to be appointed Astral Supreme MD
Posted on 5 March 2014 - 05:39am
Eva Yeong
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PETALING JAYA: The recent changes in Astral Supreme Bhd's boardroom point towards the entry of a new major shareholder in the form of Datuk Eddie Chai Woon Chet, who is also expected to take up the post of managing director at the company.

Eddie, the son of timber tycoon Tan Sri Chai Kin Kong, has called for a press conference today and is expected to announce changes in the boardroom and new direction in the company's business.

Astral Supreme is in the business of manufacturing, assembly and export of electronic products and components.

Its subsidiary Astral Supreme Construction Sdn Bhd teamed up with Zenith PMC Sdn Bhd in August last year to undertake the Penang undersea tunnel job.

A source close to the matter said that Eddie will be appointed managing director and executive director of Astral Supreme, which is close to clinching a multi-million ringgit government property development project.

The source also said that Eddie will take up a substantial share of the company as part of his diversification plan. Eddie was not available for comment.

Astral Supreme has seen some boardroom movements recently with the cessation of two substantial shareholders, namely, Cherng Chin Guan and Ong Tai Chin.

Ong, who was the managing director, has been re-designated as non-independent, non-executive director while Cherng remains as executive director.

Eddie, 36, is involved in various sectors including logging, property, automotive and telecommunications. His most recent appointment was in January when he was appointed as managing director of the only listed mobile virtual network operator XOX Bhd.

He is also an executive director of Lintasan Mayang Development Sdn Bhd and sits on the boards of numerous private companies.

His father, Kin Kong, is executive director at Penang-based Sanbumi Holdings Bhd.