KUALA LUMPUR (June 25): Johore Tin Bhd (Johore Tin) has received its shareholders’ approval to change its name to Able Global Bhd.

In a statement today, the group said that the name change will be official upon its successful filing with the Companies Commission of Malaysia.

It added that during its 20th Annual General Meeting (AGM) today, the shareholders had approved all eight ordinary resolutions and one special resolution that had been proposed.

These include the payment of directors fee amounting to RM324,000 for the fiscal year-end 2020; capping the payments of directors’ benefits at RM75,000 after the AGM; as well as the re-election of Edward Goh Swee Wang as its chief executive officer and Datuk Kamaludin Yusoff as its independent non-executive director.

The shareholders had also approved the re-appointment of Crowe Malaysia PLT as the group’s auditors.

On another note, the group said it is also planning to venture into property development.

“We believe that this proposed diversification is the right step for our group’s growth as we are able to expand our income base to include property development activities, which would provide us with an additional source of revenue and earnings and reduce our dependence on the existing businesses,” it said.

Johore Tin is principally involved in the manufacturing and trading of various tins, cans and other containers, as well as the production of milk and other dairy products.