KUALA LUMPUR (Apr 11): Asia Brands Bhd non-independent and non-executive chairman and substantial shareholder Ng Chin Huat has been redesignated as managing director (MD) of the retail company, whose stable of fashion brands includes Anakku and Audrey.

Ng, 48, was appointed to the board on March 1, 2011.

In a filing with Bursa Malaysia today, Asia Brands said Datuk Seri Tan Thian Poh, 62, will take over the chairman role.

Tan is the founder and MD of Siang Poh group of companies, a vertically integrated textile group involved in the manufacturing and distribution of textile and apparels for more than 30 years.

He has also been the president of the Malaysian Textile Manufacturers Association since 2013 and chairman of the Asean Federation of Textile Industries from 2015 to 2017. He serves as the advisor of the SME and human resource development committee of the Associated Chinese Chambers of Commerce and Industry of Malaysia. He is also a member of the industrial relations panel of the Malaysian Employers Federation.

Asia Brands shares closed 1 sen or 1.68% lower at 88 sen per share today, with a market capitalisation of RM102.37 million.