KUALA LUMPUR (April 11): Classita Holdings Bhd executive director Francis Leong Seng Wui, against whom police reports have been lodged for alleged witness intimidation in a lawsuit against the company, has resigned from the position.

Leong, 43, who was appointed as executive director in June last year, resigned on Tuesday (April 11) “to focus on other work commitments”, said the Perak-based lingerie maker formerly known as Caely Holdings Bhd.

The new executive director is former policeman Datuk Mior Faridalathrash Wahid, 61, who has been a director of Classita since Sept 27, 2022, according to the company's filing with Bursa Malaysia.

The Edge reported on March 2 that Classita's substantial shareholder Datuk Seri Tee Yam @ Koo Tee Yam and former chief financial officer Ting Yi En had lodged police reports against Leong and his lawyers for allegedly intimidating Ting to amend his affidavit in a civil suit.

The suit had been filed against Classita by Koo and former executive vice-chairman Jessie Wong Siaw Puie, to claim RM3.96 million that the duo had advanced to the company to fund day-to-day operations when its accounts were frozen by the Malaysian Anti-Corruption Commission.

Leong was earlier this year appointed as executive director of e-payment solutions provider Revenue Group Bhd, and is also the executive director of communication device company Green Packet Bhd since February 2022.

Based on bourse filings on March 22 and 23, Leong has disposed of his shareholding in Green Packet while increasing his stake in Revenue Group.

He acquired 27.14 million shares in Revenue Group via a direct business transaction to raise his stake to 27.14 million shares or 5.63%. On the other hand, he disposed of all of his 124.34 million shares or 8.91% stake in Green Packet via the open market.

Classita's share price rose 1.5 sen or 9.38% to 17.5 sen on Tuesday, valuing the company at RM59.6 million.

Revenue Group added a sen or 3.85% to 27 sen, giving the company a market capitalisation of RM130.19 million. The counter has fallen 70.33% in the past six months.

Green Packet closed unchanged at four sen, valuing the group at RM79.91 million.

Read more:
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