KUALA LUMPUR (April 6): Tafi Industries Bhd's executive chairman Datuk Saw Eng Guan has been redesignated as the group's managing director.

Saw, 61, was appointed to the board in 2004 and had been executive chairman since 2007.

Saw has an 8% direct interest in the group. He is the son of the late Saw Han Lim, whose estate is a substantial shareholder.

Tafi shares were untraded today. The counter last closed at 32 sen, giving a market capitalisation of RM24.79 million.