Luster Industries names Gary How as new MD
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Luster Industries names Gary How as new MD
Luster Industries names Gary How as new MD
By Gho Chee Yuan / The Edge Financial Daily | June 8, 2016 : 10:17 AM MYTThis article first appeared in The Edge Financial Daily, on June 8, 2016.
KUALA LUMPUR: Luster Industries Bhd saw changes in its boardroom yesterday, with 47-year-old Hong Kong-based businessman Gary How Soong Khong emerging as the company’s managing director (MD).
He is replacing 60-year-old Lim See Chea with immediate effect, who was redesignated as company executive director on the same day, according to Luster Industries’ bourse filing yesterday.
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, according the filing.
His spouse Yap Yoke Chuan and brother-in-law Yap Kean Kok have also been appointed the company’s executive directors with immediate effect.
Luster Industries, through its subsidiaries, assembles printed circuit boards, manufactures precision plastic parts and components and sub-assembly of plastic parts and products.
In separate filings, Luster Industries said several members who sit on the current board include two of its executive directors, Lim See Meng and Lim See Hwa, plus independent and non-executive director Ng Chin Nam.
How once caught the limelight in Malaysia about two years back when he expressed interest in paying premium price to buy into Masterskill Education Group Bhd.
How entered into an option agreement with Masterskill executive chairman and single-largest shareholder Siva Kumar M Jeyapalan, in which he agreed to acquire a 29.76% stake in Masterskill, which is now known as Asiamet Education Group Bhd, from the latter at RM1.10 per share — about 50% higher than the market price then.
The deal fell through in September 2014. Siva Kumar claimed it was because How, who was already Masterskill’s group chief executive officer, was unable to deliver on his end of the bargain.
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