Prolexus reshuffles boardroom, new substantial shareholder to harness synergies

NST Fri, Apr 08, 2022 05:14pm - 4 months View Original


Tan Eik Huang, who also sits on the board of YB Ventures Bhd, has been redesignated as the company's executive director.

KUALA LUMPUR: Apparel maker Prolexus Bhd is entering a new era with the guidance of a newly-realigned boardroom as its veteran leader, Lau Mong Ying, resigned from the group managing director position.

In a statement today, the company said Lau would take leave from the board he has been involved with for nearly three decades and move to an advisory role.

"His appointment as the group's advisor will add value to the company, given his leadership skills, knowledge, and vast experience in the industry," the company said.

Besides that, the company said Lau Mong Fah, the brother of Lau Mong Ying and Boo Chin Liong, has also resigned from the board.

Meanwhile, Tan Eik Huang, who also sits on the board of YB Ventures Bhd, has been redesignated as the company's executive director.

The appointment of Tan suggests that Prolexus is ready to move on to the next phase of growth under new leadership with the emergence of YB Ventures as the company's substantial shareholder.

"We are excited to take on this new growth phase with Prolexus.

"I wanted to take this opportunity to thank Lau's family for their commitment to the company.

"Particularly Lau, who has played an important role in driving sustainable growth for the company in nearly three decades.

"The economic moat demonstrates the leadership skill he built for the company," said Tan.

Tan added that the company's first agenda is to streamline the manufacturing process within Prolexus to harness the synergistic strength that could result in potential economies of scale.

"Both Prolexus and YB Ventures have very strong and dynamic manufacturing capabilities that put us in a good position to leverage our strength.

"It is important for us to streamline our manufacturing processes and take advantage of our manufacturing capabilities to harness synergistic strength going forward and mitigate the risks in an inflationary environment," he added.

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