Turiya's controlling shareholder resigns as chairman

TheEdge Wed, Aug 23, 2017 11:04pm - 6 years View Original


KUALA LUMPUR (Aug 23): Tan Sri Mohan Swami, the largest shareholder of Turiya Bhd, has resigned as the group's executive chairman to pursue other business and personal commitments.

Mohan, 66, controls 66.67% of Turiya's equity by virtue of his fully-owned vehicle, Empire Holdings Ltd. He also serves as adviser to the board of Chase Perdana Bhd.

In his stead, Datin Sunita Mei-Lin Rajakumar was appointed as Turiya's new independent non-executive chairman, Turiya said in a filing with Bursa Malaysia.

Sunita Mei-Lin, 49, is also Hai-O Enterprise Bhd's independent non-executive director and currently principal and fund manager of Bermuda-based Artisan Encipta Ltd.

Separately, the group said its net loss for its first quarter ended June 30, 2017 narrowed to RM229,000 from RM445,000 in the previous year's corresponding quarter, mainly due to higher profit from its semiconductor business and lower expenses in Malaysia.

Revenue rose to RM4.87 million from RM4.61 million on higher contribution from its electroplating business.

The group said its overall performance would depend on the performance of its subsidiary in Singapore, which is involved in the semiconductor-related industry as well as rental income from investment property.

 

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