Johor princess appointed chairman of Zen Tech, third company within the past six months

TheEdge Fri, Dec 01, 2023 12:09am - 6 months View Original

KUALA LUMPUR (Nov 30): Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar, eldest sister of Johor's Sultan Ibrahim Sultan Iskandar, has been appointed as non-executive chairman of IT and glove manufacturing company Zen Tech International Bhd. 

This is the third company that has appointed Tunku Kamariah as its chairman over the past six months. The other two listed entities are AHB Holdings Bhd and SMTrack Bhd. 

RHB Trustee Bhd is the common shareholder of Zen Tech and AHB Holdings. 

Her appointment in Zen Tech is effective immediately, following the redesignation of its previous chairman Tan Sri Syed Mohd Yusof Tun Syed Nasir as non-executive deputy chairman, according to the group's bourse filing. 

Zen Tech recorded a net loss of RM766,000 for the first financial quarter ended Sept 30, 2023 (1QFY2024), compared with a net loss of RM1.63 million a year earlier, as revenue grew 7.1% to RM9.39 million from RM8.77 million. 

Zen Tech also reported a net loss for all four quarters in the financial year ended June 30, 2023.

Tunku Kamariah was also nominated as chairman as part of a board takeover of financially stressed KNM Group Bhd in October, after German businessman Andreas Heeschen emerged as KNM’s substantial shareholder with a 7.91% stake. 

Subsequently, Heeschen, who is a major shareholder of German-based firearms manufacturer Heckler & Koch, with the support of eight other KNM shareholders, called for an EGM to remove the entire board of nine directors, including Tunku Datuk Yaacob Khyra, who is the company's chairman and largest shareholder with a 9.5% indirect stake.

However, the group of shareholders only managed to remove two directors, namely Tan Sri Zulhasnan Rafique and Steve Ho Soo Woon, at the EGM. Tunku Yaacob won the majority support of shareholders and remained as chairman. 

Ho was reappointed to the board within three weeks after being voted out. 

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