PETALING JAYA: Pensonic Holdings Bhd
’s director and group chief executive officer or chief executive officer (CEO) Datuk Chew Chuon Jin has been removed from both positions following a shareholder vote at an EGM.
In a filing with Bursa Malaysia, Pensonic said the resolution followed a requisition under Section 311 of the Companies Act 2016 by the company’s largest shareholder, Sphere Corp Sdn Bhd, which holds a 17.51% stake in the company.
The resolution to remove Chuon Jin was passed with 65% of shareholders voting in favour at the EGM held on Tuesday, the filing showed. “The results of the poll were duly validated by SH Corporate Services Sdn Bhd, the independent scrutineer appointed by the company,” it noted.
Chuon Jin, 57, is the son of group executive chairman Datuk Seri Chew Weng Khak and the brother of group executive director Chew Chuon Fang.
Trading in Pensonic shares was suspended for an hour from 9am yesterday following the announcement. At 5pm, the stock fell as much as three sen, or 6.7%, to 41.5 sen, valuing the electrical-appliance maker at about RM64.59mil.
