PETALING JAYA: South Malaysia Industries Bhd
(SMI) has appointed six new directors following the conclusion of its EGM today.
In a statement, Target 1 Sdn Bhd, the largest shareholder of SMI with a 30.67% stake, said all six resolutions to appoint new directors to the board of SMI were passed.
“Members who were present at the EGM by proxies, collectively holding a total of 105.08 million shares, representing 50.05% of SMI’s total issued shares of 209.94 million shares, voted in favour of all resolutions, resulting in a 100% approval rate from the members.”
The newly appointed directors are Datuk Mior Faridalathrash Wahid, She Pei Sze, Lee Keng Fatt, Datuk Sok One Esen, Ho Pui Hold and Leong Weng Loong.
“In November 2024, Target 1 secured the consent of Securities Commission Malaysia for the appointment of these six individuals as directors of SMI under the rules on take-overs, mergers and compulsory acquisitions.
“The newly appointed directors bring a wealth of experience and expertise, promising to ensure proper corporate governance and oversight of SMI and safeguarding the interest of all shareholders especially those of other minority shareholders.”
