Vivocom says CEO has no plans to resign

KUALA LUMPUR: Vivocom International Holdings Bhd has refuted news reports that its chief executive officer  Datuk Seri Dr Yeoh Seong Mok plans to resign.

The company, formerly known as Instacom Group Bhd, said on Monday that Yeoh “shall remain as the CEO” and that he has “no intention of leaving” the company.

Vivocom, which is involved in construction, manufacturing and telecommunications, said it took note of its obligations under the listing requirements on timely disclosure of material developments.

It also said it would make the necessary announcements of such pertinent matters accordingly.

Last week, CIMB Equities Research said Vivocom should make it clear to investors about the status of Yeoh.

The research house said this was necessary to lift the overhang on near term sentiment on the stock as there has been a great deal of speculation on the reasons for his potential early retirement.

CIMB Research said the feedback was based on its engagement with retail, high net worth and institutional clients.

The concerns over Yeoh’s leaving came to light last month from a media report that he may be looking for early retirement.