Datasonic major shareholder Razali takes over as MD, Abu Hanifah retires

  • Corporate News
  • Friday, 31 Jan 2020

KUALA LUMPUR: Datasonic Group Bhd said deputy president Datuk Razali Mohd Yusof will take over the role of managing director effective Feb 1 following the retirement of long-time boss Datuk Abu Hanifah Noordin.

StarBizweek, last month, reported that Abu Hanifah is likely to step down from the company to make way for Razali, who had emerged as the new substantial shareholder.

Abu Hanifah, 68, had been selling his shares in the company in recent months via several direct deals and through the open market.

He remained a shareholder with 9 million shares in the company, according to filings with Bursa Malaysia today. Three months ago, Abu Hanifah controlled around 390 million shares in the company that supplies passport chips to the government.

Razali first emerged as a major shareholder in the company in early December. On Dec 13, Razali was made the company's deputy president.

He now controls around 154 million shares, or 11.4% stake in Datasonic.

Meanwhile, in separate filings today, Datasonic also announced the resignation of independent directors Datuk Aziz Jamaludin Mhd Tahir and Datuk Zaiful Ayu Ibrahim.

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