Second round of changes at Astral Supreme

by **Cals** Tue 11 Mar 2014, 11:31

Business & Markets 2014

Written by Shalini Kumar of theedgemalaysia.com

Tuesday, 11 March 2014 09:27

KUALA LUMPUR: Astral Supreme Bhd announced a slew of boardroom changes yesterday.
The company said it was appointing Datuk Mohd Shokri Abdullah, Chong Leong Men, Andrew Lim Piow Teng and Datuk Ng Aun Hooi as independent and non-executive directors. Andrew Lim was also appointed as part of the company’s audit committee.
Wong Keo Rou was appointed joint company secretary on March 7.
In terms of redesignations, Wong Kwai Wah was repositioned to the role of executive director, from non-executive director. He also relinquished his position as part of the company’s audit committee.
More notably, Datuk Chai Woon Chet, son of timber tycoon Chai Kin Kong, has taken on the role of managing director, moving up from executive director.
There was one resignation — that of Lee Heng Khen, one of Astral Supreme’s non-executive and non-independent directors. Lee cited other business commitments as the reason for leaving.
He is currently the chief executive officer (CEO) of Electrofast Manufacturing Sdn Bhd and previously held the role of CEO at Heller Factoring (M) Sdn Bhd.
In addition to this, the electronics toy and game manufacturer said it had appointed Share Works Sdn Bhd as registrar.
Astral is also moving from its current location in Menara Milenium in Pusat Bandar Damansara, to an office in Sri Hartamas.
This round of changes come on the back of the company’s erroneous filing with Bursa Malaysia last Wednesday, saying that executive director Cherng Chin Guan had resigned. It later came out with a separate statement saying that the announcement was “erroneously released and it should be ignored or discarded”.
Last Wednesday also saw the exit of former managing director Ong Tai Chin @ Wong Tai Chin, who was redesignated as non-executive director in January.
Astral’s counter closed 0.005 sen down yesterday, at 22 sen.

This article first appeared in The Edge Financial Daily, on March 11, 2014.