Classita appoints former Spring Gallery ED Kuan Poh Huat to board

TheEdge Thu, Dec 22, 2022 07:40pm - 2 months View Original

KUALA LUMPUR (Dec 22): Classita Holdings Bhd (formerly known as Caely Holdings Bhd) has appointed Spring Gallery Bhd's former executive director, Datuk Kuan Poh Huat, as its new executive director.

According to a Bursa Malaysia filing on Thursday (Dec 22), Kuan is currently a director of Skyline Works Sdn Bhd and Paris Dynasty Land Sdn Bhd, both wholly owned subsidiaries of Harvest Miracle Capital Bhd.

He is also currently the managing director of Hien Seng Group of Companies.

Kuan was Spring Gallery's executive director for two years before selling his entire 19.74 million shares, representing a 14.16% stake, in Spring Gallery in 2017 for RM14.35 million or 7.27 sen per share.

Kuan's appointment by Classita comes after the Malaysian Anti-Corruption Commission (MACC) unfroze the bank accounts of the company and its subsidiaries.

This came after the MACC concluded its investigation without bringing any charges against the company, said Classita in a bourse filing on Dec 7.

In April, the MACC froze all operational bank accounts of the company and its subsidiaries in connection with several suspicious transactions.

The company was in the spotlight due to the misappropriation of RM30.55 million by its wholly owned subsidiary Caely (M) Sdn Bhd.

Classita's share price closed one sen or 2.63% higher at 39 sen on Thursday. Its market capitalisation stood at RM130.48 million.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.

Related Stocks

BURSA 6.460
HM 0.110


Login to comment.