GEORGE TOWN: Deputy Chief Minister II Jagdeep Singh Deo had "vacated" his post as a non-independent and non-executive director of PBA Holdings Bhd (PBAHB) after failing to meet attendance requirements, says Penang Chief Minister Chow Kon Yeow.
"It is under Bursa Malaysia's requirement that when any director fails to achieve the minimum attendance over a financial year, the company secretary would need to lodge a report that the said director is deemed to have vacated for failing to comply with attendance requirement.
"We have about five meetings a year, part of it he was undergoing medical leave.
"As a director of a listed company, each one must be aware of their respective responsibility," Chow told reports on Wednesday (Jan 1).
He said that responsibility includes complying with the statutory requirement.
Asked if the seat would be filled soon, Chow said no.
"We do not need to fill it up because we have sufficient directors at the moment," he said.
PBAHB is the parent company of the Penang Water Supply Corporation (PBAPP), which treats and supplies water in the state and that Chow is the chairman of it.
The board comprises 11 other members, which conventionally includes the state’s two deputy chief ministers.
It was reported that 53-year-old Jagdeep, who is Datuk Keramat assemblyman and Penang human capital development, science, and technology committee chairman, had vacated the seat with immediate effect on Tuesday.
He was appointed to the board of PBA in Sept 2023.
