KUALA LUMPUR (October 1): Former Attorney General Tan Sri Abdul Gani Patail has been reappointed with immediate effect from his position as non-executive director to Executive Chairman of Versatile Creative Bhd.
Abdul Gani, 63, replaces Datuk Lee Kwee Hiang, 70, who is retired.
According to Versatile & # 39; s Annual Report 2018, Lee was appointed to the board of directors of Versatile and elected chairman on 13 November 2014.
In a complaint to Bursa Malaysia today, the loss-making plastic packaging company also announced a series of other boardroom changes following the closing of the Annual General Meeting (AGM) held yesterday.
At the AGM, Versatile shareholders voted against five resolutions that were adopted. These include resolutions to re-appoint Lee, Datuk Chew Weng Kit, Datuk Eow Kwan Hoong and Chan Feoi Chun as directors.
The company today announced the retirement of the three of Versatile's board in the stock exchange.
Versatile also announced the retirement of managing director Datuk Wong Kong Choong @ Leong Kong Choong. Wong did not re-elect at the AGM yesterday.
Versatile has been in the news about alleged financial irregularities. On August 21, she announced the resignation of Wong and chief financial officer Tan Quok Eow from their employment after they had not satisfactorily answered their claims regarding unauthorized payments to third parties with a total amount of RM2.3 million.
During an extraordinary general meeting on 30 August, Versatile appointed seven new directors to the board. The seven were Abdul Gani, former police commissioner Datuk Seri Wira Ayub Haji Yaakob, former agricultural and agro-based industry-deputy minister Datuk Seri Mohd Shariff Omar, former KPMG advisory partner Datuk Hew Lee Lam Sang, lawyer Nicholas Chang Chen Seng; Khat Chee How and Lim Siew Yeng, who is the daughter of Lim Chou Bu, a substantial shareholder in Versatile through his interest in the NSK Trading Sdn Bhd.
Versatile equities closed today 8.5 sen or 12.3% at 60.5 sen, for a market capitalization of RM78 million.