KUALA LUMPUR: Malton Bhd executive chairman Tan Sri Desmond Lim Siew Choon, who acquired 19.67% equity interest in WCT Holdings Bhd on Tuesday, has been appointed executive chairman of the engineering and construction group.
In a filing with Bursa Malaysia on Wednesday, Malton said Lim planned to relinquish his position as executive chairman of Malton and assume the position of non-executive chairman with effect from Jan 2, 2017.
His duties and responsibilities as the executive chairman will be reassigned to and assumed by the other executive members of the board,” the company said.
Lim took over the WCT executive chairman position from Datuk Capt Ahmad Sufian @ Qurnain Abdul Rashid, who has resigned “to pursue personal interests.”
Lim, through his vehicle Dominion Nexus Sdn Bhd, bought the 19.67% stake from WCT’s long-serving managing director Peter Taing Kim Hwa and co-founder Wong Sewe Wing through their vehicle WCT Capital Sdn Bhd,
* See also WCT founders exit firm, Pavilion’s Lim buys 20%. Click here for story
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