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D’Nonce Technology gets new CEO

TheEdge Mon, Jan 14, 2019 07:03pm - 1 year ago

KUALA LUMPUR (Jan 14): D’Nonce Technology Bhd, which is in the midst of an investigative review, announced that its executive director Lim Teck Seng has been redesignated as group chief executive officer (CEO) of the industrial packaging company, replacing Kuah Choon Ching who had resigned on Jan 10.

Lim, 49, joined the board of directors of D’Nonce on Jan 8.

Lim had previously served in Apex Group of companies for nine years. During the period, he had served as a chairman of JF Apex Securities Bhd and executive director of Apex Equity Holdings Bhd. 

Before he joined Apex Group, he worked as manager of business development of MIDF Sisma Securities Sdn Bhd in 2000 and was promoted as general manager of dealing and business development in 2005. He was appointed as the vice-president of dealing-equity market of MIDF Amanah Investment Bank Bhd in 2007.

Presently, he sits on the board of Asia Poly Holdings Bhd, OCR Group Bhd, Pegasus Heights Bhd, Lay Hong Bhd and European Credit Investment Bank Ltd.

On Friday (Jan 14), D’Nonce Technology saw the appointment of Tengku Ahmad Badli Shah Raja Hussin as its independent non-executive chairman, replacing Ang See Ming who had resigned.

The company had also appointed Heah Jay King, 34, as the group’s executive director and Datuk Yeo Boon Leong, 52, as non-executive director.

On Jan 8, D’nonce had appointed Deloitte Corporate Solutions Sdn Bhd to perform an independent forensic investigation on the company, following findings from an investigative audit carried out by SH Yeoh & Co on a related party transaction linked to the former CEO of the company.

Law Kim Choon, who was D’Nonce's CEO since 2002 prior to his resignation in July last year, is currently being sued by the company for allegedly committing fraud and conspiracy, and breaching fiduciary duties.

Shares of D'Nonce closed up 0.5 sen or 1.12% at 45 sen today, giving it a RM107.66 million market capitalisation.

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