KUALA LUMPUR (April 2): MTD ACPI Engineering Bhd today announced the resignation of its independent and non-executive chairman Datuk Ir. Rashid Omar effective April 1, 2018, due to retirement.

Rashid has been on the board for over a decade, since his appointment on Aug 15, 2006. He was previously with the Public Works Department (PWD) and served several positions, from a district engineer in 1977 to deputy director of infrastructure in 1983 and management director from 2000 to 2005.

With his resignation, Rashid has also ceased to be a member of the remuneration committee of the company, leaving the committee with the two remaining members, Datuk Kalid Alias and Nik Firdaus Tan Sri Nik Hussain.

At 4.54pm, MTD ACPI rose 1.5 sen or 6.52% to 24.5 sen, giving the company a market capitalisation of RM56.75 million.