PETALING JAYA: Kumpulan Perangsang Selangor Bhd (KPS), the company controlled by the Selangor state government, saw its chairman Raja Datuk Idris Raja Kamarudin resigning from his post.
In a filing with Bursa Malaysia, KPS said Raja Idris, 65, had relinquished his position as the chairman-cum-director of the company effective June 1.
Raja Idris had been on the board of KPS for more than seven years, and was on the board of Kumpulan Darul Ehsan Bhd (KDEB).
KDEB is the investment holding company of the state of Selangor and the major shareholder of KPS.
Raja Idris, was a former executive director of TDM Bhd, a public-listed entity owned by the Terengganu state government, and vice-president of Information and Communications Networks at Siemens Malaysia.
Shares in KPS fell three sen to RM1.75 yesterday.
KPS’ net profit for the first quarter ended March 31 declined to RM13.21mil from RM20.21mil in the same period last year.
Revenue, however, rose 24.7% to RM95.84mil from RM76.76mil previously. The company in a filing with Bursa Malaysia said that the higher revenue was led by a higher contribution of RM44mil from cement packaging provider CENTURY BOND BHD from RM39.6mil a year ago.