Quick take: Opcom falls 8.5% after Mokhzani quits

KUALA LUMPUR: Shares in Opcom Holdings Bhd fell 8.5% in early trade Monday after the company announced that its executive chairman Tan Sri Mokhzani Mahathir has resigned.

The  the fibre optic cable company shed 8.47%, or five sen to 54 sen with 2.25 million shares traded.

Mokhzan cited “personal reasons” for his resignation. He was appointed to the group’s board ten years ago.

In addition, Datuk Seri Mukhriz Mahathir, a major shareholder in Opcom, disposed of 2.57 million Opcom shares, trimming his direct stake in the company to 21.685%.

Mukhriz is currently Kedah Menteri Besar and deputy president of Parti Pribumi Bersatu Malaysia.