KUALA LUMPUR (Nov 13): Scientex Bhd's subsidiary Daibochi Bhd has appointed Chang Chee Siong as its new managing director (MD), replacing Lim Soo Koon who is retiring on Dec 13.

In a filing with Bursa Malaysia today, Daibochi said Lim will not be seeking re-election at the group's annual general meeting on Dec 13.

Chang, 47, joined the company in 1994, and was appointed as marketing and sales head of department in 2006. He was subsequently appointed as the group’s marketing and sales general manager in 2014.

Lim, 57, joined Daibochi in 1995 and was the general manager from 1999 before his appointment as MD in February 2005. He has a wide range of experience in management, finance, marketing and business development.

Daibochi's share price closed unchanged at RM2.15 today, giving it a market capitalisation of RM703.8 million.